Current listing inventory as of September 23,2009:
Single Family Dwellings - 2015 properties including 9 pending offers
Strata - Condos - 1159 properties including 8 pending offers
Strata - Townhomes - 480 properties including 7 pending offers
Manufactured Home - 228 including 3 pending offers
Lots/Acreages - 883 properties including 3 pending offers
Total properties for sale - 4,765 (total inventory increase of 1.47% from last month)
The hottest segment of the real estate market in the Central Okanagan are townhomes. There were 32 sales in August of 2008 compared to 70 sales in August of 2009. That accounts for a 94% increase in sales year over year and an absorption rate of nearly 14% of the overall townhome inventory! Essentially, at that rate of sales there is enough supply for just 6 months. If you are considering selling your townhome now would be a good time indeed!
There are a total of 56 foreclosures amongst the entire listing inventory. That is an overall change of 11 listings to the total number of foreclosures from August,2009 to September,2009.
Current foreclosures in the Central Okanagan listings represents 1.175% of the total listing inventory!
The breakdown is as follows:
2 Lots and Acreages ($399,000 and $590,000)
32 Single Family Residential ($250,000 to $2.295 Million)
22 Strata Properties ($189,900 to $999,000).
The biggest change to the foreclosure inventory was in strata properties. There were 10 listings last month and now there are 22 listed. That is a significant jump of 120% in a single month! There are currently no pending foreclosure properties being reported.
OMREB Stats for August 2009
If you would like a detailed list of current foreclosures in Kelowna and its surrounding areas please contact me at (250) 808-7700 or jason.neumann@century21.ca
Sincerely,
Jason Neumann, REALTOR®Century 21 Assurance Realty Ltd.
Cell: (250) 808-7700
Office: 1-888-301-2121
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