House sale momentum

Historically it is not unusual for Kelowna's single family residential sale activity to soften at this time of the year as folks become focused on seasonal obligations.

November's 69 house sales are down -25% from the previous month (92) and down -15% from November 2010 (81).  In the past nine years for November house sales 2008 was the weakest (51). November 2011 is next.  The current instability of the economy coupled with the onset of the Christmas season likely have led to the dip in sale activity.

124 house sales need to happen in the next thirty-one days to overcome 2010's total (1,245).  In the past ten years 2008 experienced the lowest number of Kelowna house sales (1,229).  Will 2011 be next?  The way sale activity is currently trending ~ likely.

Of the 1,121 Kelowna house sales year-to-date the neighborhoods of Upper Mission, Glenmore and Lower Mission have had the greatest number of sales.

Kelowna Neighborhoods YTD House Sale Activity in descending order:

• Upper Mission
• Glenmore
• Lower Mission
• Kelowna South
• Rutland North
• Rutland South
• North Glenmore
• Black Moutain
• Kelowna North
• South East Kelowna
• Dilworth Mountian
• Ellison
• Springfield/Spall
• University District
• Joe Rich

Though a neighborhood may have a lot of house sale activity it does not necessarily mean it has the strongest median house sale price.  Have a look at the ytd Kelowna neighbhorhood median house sale price:

If you're a Seller who has taken their home off the market to give it a 'seasonal rest' and start fresh in January you might just do the opposite.  Yes, buyer activity has slowed down but any buyer who is actively looking during the xmas holidays are that much more serious and you have less competition!