First Half Housing Update скачать в хорошем качестве

First Half Housing Update

With the year half over this might be as good a time as any to look back and reflect on what has happened so far this year. First things first though. We generated 48 residential sales last week including 5 in Rutland and 4 in Lakeview Heights, Lower Mission and Westbank Centre. This was a pretty good I think and we’re keeping ahead of last year’s pace. Now that we’ve turned the calendar on June we can report 238 residential sales last month at a median sale price of $993,500. Up from June 2024 when we sold 210 homes at $981,250. This is another continuation of a trend this year where we outperform last year’s monthly numbers even though not by a lot. It’s still encouraging though. Comparing the first half of this year to 2024s first half we sold 144 more homes this year. 1,000 last year compared to 1,144 this year with prices increasing from $948,500 to $982,500. 144 more homes sold represents an expected uptick in the volume of homes sold and I would expect this to continue throughout the rest of the year. With 1,910 homes for sale we still need to be selling more on a monthly basis before the market gets back into balanced territory. We would need to jump from 240 homes sold per month up to about 300 before sellers can find themselves confident again. With 962 condo apartments for sale we’re still in a buyer’s market and unlikely to shift from this position for some time. The first half of this year saw us sell 523 condos compared to 534 last year. Prices softened from a median sale price last year of $451,000 to $437,000 so far this year. The good news is that this is just a basic economics problem and has nothing to do with frozen credit markets or pandemics. There are likely hundreds more condo owners who would like to sell but might feel hesitant if they see 6 or 7 units for sale in their building already. Overall things are considerably rosier than least year but not as good as we would all like. The summer market is in full swing and Kelowna switches gears this time of year with tourists buzzing around, live music downtown and crowded restaurants. Drop in and say hi if you’re passing through. Andy and Kierra GO FOLLOW us on other socials! Strava: Instagram:   / andy_smith_realtor   Facebook:   / andy.paul.smith   CONTACT US: Email: [email protected] Website: www.OkanaganBC.com Our Featured Listings: https://www.okanaganbc.com/property-s... https://www.okanaganbc.com/property-s... Coffee With Andy: December 5:    • Limping Into December   November 28:    • Kelowna Real Estate Market Update   November 21:    • Kelowna Real Estate Market Report