Strata - Condos - 1092 properties (4 more properties or a 0.367% increase from March) with 3
Strata - Townhomes - 464 properties (5 more properties or a 1.08% increase from March) with 4 pending offer ranging in value from $244,800 to $392,500
Manufactured Homes - 224 properties (2 more properties or a 0.900% increase from March) with 2 pending offers ranging in value from $39,800 to $115,000
Timeshare/Recreation - 38 properties with no pending offers at this time
Lots/Acreages - 761 properties (11 more properties or a 1.47% increase from March) with 1 pending offers on a $2.195M listing
Total properties for sale - 4686 Current Inventory (total inventory increase of 212 properties or 4.74% from last month's report)
The overall inventory levels from April '09 to April '10 increased significantly by 27.29%. With this type of inventory gain the property selection available to buyers continues to get better and better.
The absorption rates or the total number of sold units versus the remaining inventory for condos, townhomes and residential homes continue to stay strong. Townhomes continue to lead the way with an impressive 14.03% absorption rate last month and residential homes also showing well at 10.98%.
The following are the changes in sales figures to the single family, townhome, condo and building lot categories:
Single family unit sales increased by 42.06% jumping from 233 sales in March 2009 to 331 in March 2010. Townhome sales were exceptionally strong increasing 85.29% with 63 sales last month versus 34 sales one year ago at this time. Condo sales in March 2010 were 56 versus 47 in March 2009, or an overall increase of 19.15% The largest gains were building lots which saw a 380% increase in sales from 5 in March 2009 to 24 in March 2010.
Disclaimer: Monthly sales statistics are based on the sales reported by real estate offices as of the last day of the month. As a result, there may be some lag time in reporting sales and other minor adjustments in the total results are made accordingly.
Below is an overview of Central Okanagan Stats for March 2010:
Ratio of Sales vs. Total Inventory = 7.35% (6.54% in February)
Condo -- Sales = 56 (57 last month)
Condo -- New Listings = 260 (226 last month)
Condo -- Current Inventory = 1091 (996 last month)
Condo -- Sell/Inv. Ratio = 5.13% (5.72% last month)
Condo -- Days to Sell = 128 (120 last month)
Townhouse -- Sales = 63 (32 last month)
Townhouse -- New Listings = 129 (124 last month)
Townhouse -- Current Inventory = 449 (425 last month)
Townhouse -- Sell/Inv. Ratio = 14.03% (7.53% last month)
Townhouse -- Days to Sell = 87 (99 last month)
Lots -- Sales = 24 (21 last month)
Lots -- New Listings = 144 (90 last month)
Lots -- Current Inventory = 748 (651 last month)
Lots -- Sell/Inv. Ratio = 3.21% (3.23% last month)
Lots -- Days to Sell = 294 (282 last month)
Residential -- Sales = 172 (123 last month)
Residential -- New Listings = 594 (473 last month)
Residential -- Current Inventory = 1567 (1317 last month)
Residential -- Sell/Inv. Ratio = 10.98% (9.34% last month)
Residential -- Days to Sell = 64 (68 last month)
Average House Price = $460,417.18 ($462,456.84last month)
Median House Price = $425,000 ($429,000 last month)
If you would like more in depth statistics or have any general questions please contact me at (250) 808-7700 or at jason.neumann@century21.ca
Complete OMREB Statistics for March 2010
Sincerely,Jason Neumann, REALTOR®
Century 21 Assurance Realty Ltd.
Cell: (250) 808-7700
Office: 1-888-301-2121
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