Kelowna Real Estate Pros

Copper Sky in West Kelowna is an example of the excellent buying opportunities in Kelowna right now. The Statistics for November are out and I find the stats very interesting.  First, a quick summary of the stats shows that there were 575 total new listings in November, with only half this amount (258) in sales for the month.  The great news is that while the current active listing level remains high at 4,479, sellers were able to secure, on average, 94% of list price when selling their home.   This means that in general, list prices (of homes that are selling) ....

The October Buyer survey has shown some great factual information for future buyers in Kelowna.  Many would think that First time home buyers make up the bulk of the sales this year, you are right but the leader in October 2011 are move up buyers. Move up buyers that have bought this year see the potential in moving up in home price and product in this type of market.  Since real estate has cooled off in Kelowna and home prices have  fallen, move up buyers realize that although they may have lost some equity, moving up to a larger more expensive home is the best optio....

The Central Okanagan MLS stats for October were posted last week and to be honest, I was a little surprised. October residential sales came in as the third worst month in sales year to date.  With only 125 sales, February and January were the only months which lost to October with sales numbers as low as 98 for the month.  The inventory of residential listings for this time remains constant over last year.  The Median home prices dropped by $12,000 from 2010. The Apartment sales were slightly more encouraging with an increase of 11% over last year but only ranked 4th ....

The New Kid on the Block Meet Felicia Carroll, our outstanding new Sales & Marketing Coordinator.   I am so pleased to introduce Felicia officially, something I probably should have done earlier this fall.  She has been working in the office for a few months now and is well… swell!   She came to us via referral from my wife, who had the opportunity to work with Felicia in her previous role as Account Coordinator at Think. Marketing.  Felicia had all the right credentials – education, experience in service, office management/ administration and mark....

The MLS 2011 statistics translate an overall positive stand on sales in all four categories, residential, apartments, townhomes and lots vs. the statistics of the previous year. The biggest change noted is seen in the lots category with a 235% increase over 2010. Apartment sales place second with a 59% increase over last year’s figures, however the median sale prices either remain unchanged or have dropped in 2011. Meanwhile the median resident home price for 2011 has increase by $2000 to $427,000. Unfortunately what we are seeing in the other three categories is a dr....

August again shows the main buyers being first timers followed by move up buyers. First time buyers tend to enter the market when interest rates are extremely low and the market is balanced. As pricing in the Okanagan has fallen back in line with true home values it is to no surprise that we are seeing first timers dominating the buyer’s market. First time buyers tend to buy lower price categories and smaller home types like townhomes, condos or smaller single family homes. When this happens the sellers are then able to move up in home size which creates the surge in....