September 2011 Single Family Residential Numbers

Numbers are in from Okanagan Mainline Real Estate Board (OMREB)  to give us a picture of the Kelowna area real estate activity for September as well as the past nine months (ytd).

Overall the Kelowna area real estate market has been noticeably slower than previous years and compared to other Canadian cities.

• Kelowna September single family residential (SFR) sale totals (100) were similar to August (103) and up from same month a year ago (90).
• West Kelowna SFR sale totals (37) were up both from last month (29) as well as same month last year (29).

• Kelowna September median SFR sale price ($439,500) came down from August ($446,000) and up from same month last year ($417,000).
• West Kelowna September median SFR sale price ($400,000) is down from August  ($430,000) as well from September 2010 ($450,000)

• $515,000 May 2008 has been the strongest monthly SFR median sale price since 2001 for Kelowna and $475,000 September 2008 for West Kelowna

• Kelowna September SFR active listings total (1110) was down from August (1172) and down from September 2010 (1176).
• West Kelowna SFR active listings total (562) was down from the previous month (602) and up from same month last year (528)

• Kelowna ytd SFR sale numbers are down -4.32% and West Kelowna -6.75% from same period 2010 Jan-Sept
• Kelowna ytd SFR median sale price ($455,000) is down -2.8% and West Kelowna (433,950) weakened -2.86% compared to 2010 Jan-Sept

KELOWNA SFR 2011 Jan-Oct SALE RANGES

WEST KELOWNA SFR 2011 Jan-Oct SALE RANGES

Source of Graphs: OMREB

Buyers ytd defintely have the upper hand in both the Kelowna and West Kelowna abundantly supplied single family residential markets!