Kelowna Real Estate Market Update [September 2013]

    Sales activity in September 2013 was on the rise compared to earlier this year and is up 47% compared to last year at this time with 405 units sold. The number of all units listed in MLS is also up over 3% in September, sitting at 754 units, while residential homes are sitting at 363 units.

    Kelowna September Real Estate Infographic

    The average price for a home is up slightly in September at $396,719 from $392,448 in August and up 2.88% over last year. The median cost is also up slightly from August ($347,500) at $351,500 but down 2.36% from September last year. Single family dwellings are down 4.67% in average price, while apartments are up 12.37% and townhouses are up 9.82%.

    The average days for a unit to sell is sitting at 125 days this September, which is about the same as September in 2012 (124 days) but almost a month longer than August at 99 days. Average days to sell for a residential home is sitting at 93 days.

    While the number of homes listed in September is down from August, it is also down 3.13% from last September. Homes listed between $600K and $999K, however have seen an increase over last September and slightly increased since August. Homes listed between $2400K and $399K as well as homes over $1 million are down significantly since September last year.

     September 2013 Single Family Dwelling Monthly Listings

    The average sold price for a residential unit is sitting at $396,719, which is up 2.88%. But the average sold price for a single family residence in September was the lowest it has been for the last three Septembers at $465,966.

    There was a slight increase in the average sold price from last September to this September in the Southeast Kelowna and Lakeview Heights neighbourhoods. The Beaverdell/Carmi neighborhood saw a significant increase that almost doubled the average price to near $200K.

     September 2013 Single Family Dwelling Monthly Sales

    Luxury home activity has remained fairly constant. The number of million dollar luxury homes sold in the last two months remained the same in number at 25 for both September and August, but September saw greater variance in prices.

    September 2013 Million Dollar Sales for the last 2 Months

    All stats and graphs are provided by the Okanagan Mainline Real Estate Board.

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