Residential MLS May Central Okanagan Market Report
Just in from the Okanagan Mainline Real Estate Board May Report, and expounded upon for you we are happy to share our May Residential MLS real estate report for the Central Okanagan Zone.
May 2012 Central Okanagan Real Estate Market Update
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Condo Apartment
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Listings Sold
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84
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New Listings
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261
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Current Inventory
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994
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Absorption Rate Sell/List
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8.45%
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Months of Inventory on Hand
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Almost 12
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Days to Sell (Average)
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123
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Days to Sell (Range)
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1 - 382
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Average Sale Price
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$256,794
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Median Sale Price
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$249,000
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Range of Sales Prices
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$50,000 - $685,000
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Hottest Neighbourhood
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Kelowna North
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Condo Townhouse
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Listings Sold
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69
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New Listings
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129
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Current Inventory
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544
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Absorption Rate Sell/List
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12.68%
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Months of Inventory on Hand
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Almost 8
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Days to Sell (Average)
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98
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Days to Sell (Range)
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8- 357
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Average Sale Price
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$344,561
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Median Sale Price
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$335,000
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Range of Sales Prices
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$144,000 - $680,000
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Hottest Neighbourhood
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Lower Mission
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Building Lot
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Listings Sold
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23
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New Listings
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68
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Current Inventory
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829
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Absorption Rate Sell/List
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2.77%
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Months of Inventory on Hand
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36 (yes 3 years)
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Days to Sell (Average)
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209
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Days to Sell (Range)
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29 -949
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Average Sale Price
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$294.456
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Median Sale Price
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$162,999
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Range of Sales Prices
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$35,000 - $1,550,000
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Hottest Neighbourhood
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Shannon Lake
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Residential Homes
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Listings Sold
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203
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New Listings
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518
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Current Inventory
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1,731
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Absorption Rate Sell/List
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11.73%
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Months of Inventory on Hand
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Almost 9
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Days to Sell (Average)
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85
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Days to Sell (Range)
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2 - 704
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Average Sale Price
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$487,167
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Median Sale Price
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$450,000
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Range of Sales Prices
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$175,000 - $5,250,000
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Hottest Neighbourhood
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Upper Mission
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Overall Ratio of Sales vs Inventory = 9.62%