North Okanagan Real Estate: A CLUE to what's going on in the market. March 2011 sales statistics
The numbers are in from the Okanagan Mainline Real Estate Board office so we can look back at the month of March and see what happened in 2011:
NORTH Okanagan Real Estate Market Update for March 2011
Condo / Apartment | |
Listings Sold | 13 |
New Listings | 24 |
Current Inventory | 182 |
Absorption Rate | 7.14 |
Days to Sell | 137 |
Range | 8 -357 |
Average Price | $161,431 |
Median Price | $178,000 |
Range | $80,000 $223,000 |
Hottest Neighbourhood | Centennial Drive |
Condo / Townhouse | |
Listings Sold | 17 |
New Listings | 47 |
Current Inventory | 210 |
Absorption Rate | 8.10% |
Days to Sell | 103 |
Range | 13 -270 |
Average Price | $306,824 |
Median Price | $295,000 |
Range | $139,000 - $1,000,000 |
Hottest Neighbourhood | 27th Ave |
Building Lot | |
Listings Sold | 8 |
New Listings | 82 |
Current Inventory | 320 |
Absorption Rate | 2.50% |
Days to Sell | 348 |
Range | 21 - 792 |
Average Price | $167,069 |
Median Price | $151,950 |
Range | $82,500 - $310,000 |
Hottest Neighbourhood | Enderby, Foothills, Silver Star |
Residential | |
Listings Sold | 51 |
New Listings | 218 |
Current Inventory | 701 |
Absorption Rate | 7.28% |
Days to Sell | 114 |
Range | 10 - 330 |
Average Price | $350,894 |
Median Price | $335,000 |
Range | $140,000 $642,000 |
Hottest Neighbourhood | East Hill |
Overall Residential Sales vs Inventory =6.30
New this month I thought I would add an overall residential real estate sales report for the North Okanagan. As of today ( Monday April 4, 2011) a total of 111 residential property transactions have been registered within the OMREB Database.
The minimum sale price was $8000. This property was a court ordered sale on a mobile home located in an adult park in Vernon. The days on the market show at 23, but I am pretty certain I showed this same unit last spring.
The most expensive property was a 4624 square foot home in Coldstream Valley Estates on 3.97 acres. This property originally listed in 2005 for $2,400,000. It was back on the market in late 2009 for $1,990,000, and relisted again for $1,990,000 in January of this year. It sold for $1,688,905 after 109 days in the final list period.
In the North Okanagan, a total of $34,940,030 of real estate traded within the month of March 2011 compared to 146 sales totalling $50,014,389 in March 2010.
Brell
Brenda Ellis
REALTOR®
Sutton Group - Lakefront Realty
2749 30 Street, Vernon, BC, V1T 5C6
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...we are better together!
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