Shuswap and North Okanagan Home Sales Slow.

November 25, 2012

This week I got together with some local Realtors here in Mexico and was introduced to a Resort Development property nearby where I am statying. More on that in another upcoming post.

Meanwhile - back at home:

A slight decline in transactions reported this week 90 compared to 93 transactions last week. and yet the average sale price was up to $412,562 from$361,679 . This is a result of an increase in sales in the Central Okanagan, and a decrease in other, traditionally less expensive properties in the areas of the North Okanagan and Shuswap sectors. - making Central Okanagan a larger percentage of overall properties sold regionally.

Okanagan Shuswap Residential MLS Properties Sold (90) Nov. 19 - 25
List Price	Sold Price	DOM	Beds	Total Baths	Finished Floor Area
Min	$30,000	$23,000	12	1
Max	$4,750,000	$3,950,000	977	6	9	5468
Avg	$444,690	$412,562	154	3	3	1880
Sum	$40,022,075	$37,130,616

Compared to:

Okanagan Shuswap Residential MLS Properties Sold (93) Nov. 12-18, 12
		List Price	Sold Price	DOM	Beds	Total Baths	Finished Floor Area
	Min	$17,500	$15,000	14	1	1
	Max	$995,000	$935,000	912	5	5	4450
	Avg	$378,303	$361,679	130	3	2	1857
	Sum	$35,182,150	$33,636,139

Properties reported as sold were comprised of the following types:

Land: - Lots and Acreages 7 sold, up from 6 sold,

Manufactured Homes: - 6 sold, up from 2 sold,

Recreational: - 0 sold

Single Family Homes:- 50 sold, down from64 sold,

Apartments:- 16 sold, up from 10 sold,

Townhomes:- 11 sold, unchanged

Look at WHAT sold in order to determine what is really going on in the 3 zones of Okanagan Shuswap Real Estate.

In the Central Okanagan the results bucked the regional downward trend, with 65 sales reported compared to 56 the week prior. Average sale price came in at $472,284 ( more than $200,000 above the average in the North Okanagan and Shuswap regions. Home sales numbers were unchaged at 38 single family dwellings - but the number of Apartments, Land and Manufactured homes sold doubled from the week prior. Total sales volume rose from$22,578639 to $30,698,455

In the North Okanagan, Vernon BC Real Estate Area reported sales volume dropped this week to 16 from 24 last week, and the average sale price reported plummeted to $260,416! The biggest reason for this was the drop in the percentage of single family homes in the mix (almost 2/3 rds less than last week. Total sales value dropped to $4,166,661 from $7,585,000.

Total sales in the Shuswap Revelstoke real estate zone dropped from 13 reported the week prior to 9 this week. Single family homes were the most impacted sector, with 30% fewer sales reported. Average sale price this week came in at $251,722 down from $267,115.

We have reports available on all the properties sold. Contact us for more details.

All data from the OMBREB Database. Totals include variables in any given due to previous month’s collapsed sales and deleted listings. e & eo

Hasta semana!

Brell

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