Kelowna Real Estate Listings Market Information

Dilworth Mountain, Kelowna  - 

Open house at 733 Nahanni Place on Saturday and Sunday September 24th and 25th  from 12:00 PM to 2:00 PM.

Have you been looking for a new home, scouring over the same old boring listings and haven't yet found the one?? You know... THE ONE!!! 

Have you been visiting Kelowna open houses or setting up the odd appointment for viewings and none of the homes have been speaking to you?  As soon as you pull up to this FOXY home it starts to speak. When you reach the steps and open the door... You know... THE ONE!!!

I'm not going to have the opportunity to host open houses at this home very often, if ever again. Please don't miss this chance or for Pete's sake contact me and I will get you a private showing.

733 Nahanni Place Listing Info

Michael Johnson
Kelowna Real Estate Consultant
REALTOR
Vantage West Realty

250-808-6453
Mike@MyKel.ca

Kelowna, BC – The Central Zone of the Okanagan Mainline Real Estate Board (OMREB) reported August 2011 sales activity of all MLS® property types slower than this time last year and down marginally compared to July as a buyers’ market continues into the fall.

During August, overall sales dipped 2.05% over last year (to 286 units from 292) and were down 16.12% over July (from 341), with sales volumes of $113.3 million compared to $155.7 million in 2010. Total residential sales last month were down 3.72% compared to August 2010 (to 259 units from 269). Single family home sales rose 1.54% over last year (to 132 compared to 130) – a 2.94% drop from the 136 homes sold in July. While inventory continues to decline over last year (down 1.23% to 5,230 units from 5,295), new listings for the month rose over last August (up 0.97% to 832 from 824) but declined 13.6% compared to listings taken in July (from 963).

“The summer finished with steady home sales and stable home prices in the Central Zone. Most market segments continue to move along and hold their own in the Okanagan‐Shuswap, while the recreation and investment segments are still sluggish – being most affected by attractive U.S. opportunities and a slower than expected recovery in Canada,” says Kent Jorgenson, OMREB Director and REALTOR® in the Central Zone. “Concerns over personal debt loads, net worth and employment fueled by reports of American economic instability have cooled consumer confidence and overall demand in most BC markets, and volatility in the equity markets could result in further belt‐tightening and apprehension about making big purchases moving into fall. However, we’re hopeful the BC Government will reveal its HST transition plan quickly to alleviate some market uncertainty. ”

Jorgenson notes, “Serious buyers are looking for well‐priced properties – recognizing that now is the time to buy while there is still a good selection of homes and room to negotiate, and knowing that higher interest rates anticipated later this year could impact their purchasing power and determine the home they can afford. Sellers can benefit from working with a professional REALTOR® to price strategically at current values and make the most of buyer activity. Homes with good curb appeal that are listed by vendors with the sharpest pencils are selling quickly in this competitive market. “

The results of OMREB’s Board‐wide monthly Buyers Survey profiling who the buyers are, what they are buying and where they are from shows that the majority of buyers are from within the Board area. First‐time buyers and move‐up buyers are a driving factor, and stimulate the chain of ownership.

• 3,300 sq. ft., 3 bath, 4 bdrm ranch "Rancher with Walk-Out Basement Suite" - MLS®$549,900 CAD - BELOW ASSESSMENT!!!

Dilworth Mountain, Kelowna  -  STUNNING! Come see this tastefully updated executive 4 bedroom + den rancher including a walk-out 2 bedroom basement suite mortgage helper. Featuring vaulted cathedral ceilings in the living room nestled between the uber functional kitchen and spacious master suite, all tied together with a huge wrap around private deck perfect for entertaining. Floor to ceiling windows look out over a treed ravine to serene mountain, valley and city views. More interior features include birch hardwood throughout with ceramic in the kitchen and bathrooms, designer alabaster stone lighting, silhouette blinds and central air & vac. Other features include ample storage, double garage, new roof and a low maintenance landscape with a tranquil koi pond. On a scale of 1 to 10 this foxy home is a definite 12. Impeccable no-thru Dilworth Mountain neighborhood close to parks and virtually 10 minutes to everything in Kelowna. Quick possession is possible.

Property information

MEDIA RELEASE
For Immediate Release:
July 6, 2011

Housing Market More Stable Moving into Summer

Kelowna, BC – The Central Zone of the Okanagan Mainline Real Estate Board (OMREB) reported June 2011 sales activity of all MLS® property types were down compared to sales reported at this time last year but improved over May as the market shows more stability moving into summer.

During June, overall sales dipped by 5.51% over last year to 343 from 363, with sales volumes of $133.1 million compared to $156.8 million in 2010. However, sales improved 1.78% over May’s 337. While total residential sales last month declined 6.89% compared to June 2010 (to 311 units from 334), single family unit sales were in line with last year (182 compared to 181), and improved 13.75% over May (160). Inventory continues to decline over 2010 – down by 8.11% to 5,301 units in June compared to 5,769 last year. New listings for the month fell by 7.21% over last June (to 1,094 from 1,179) – a 9.48% decline over last month (from 1,212 in May).

“The slight rebound and gradual improvement in June is promising. We hope to continue to see modest gains in sales if activity picks up with the warm weather and an influx of out‐of‐town buyers,” says Kent Jorgenson, OMREB Director and REALTOR® in the Central Zone. “While many factors have affected consumer confidence, created buyer hesitation, and deterred potential recreation, investment and retirement property buyers to date, it is still too soon to tell if there will be a slow down over the summer. This next month (July) will be a good indicator as to an ongoing trend.”

“Although inventory is on the decline, serious buyers enjoy an excellent selection of homes in the Central Okanagan, and are taking advantage of good prices and wide choices while they are still available. Properties that are priced to reflect current values in this competitive market are selling relatively quickly. Sellers can benefit from working with a professional REALTOR® to price strategically and make the most of summer buyer activity.”

Jorgenson notes the results of OMREB’s Board‐wide monthly Buyers Survey – launched in September 2010 to profile who the buyers are, what they are buying and where they are from – shows that the majority of buyers are from within the Board area. Survey results indicate that buyers are leveraging the positive purchasing power afforded by attractive prices and low interest rates, before inventory narrows and borrowing costs rise. First‐time buyers are a driving factor and they stimulate the chain of ownership.

The Central Zone of OMREB covers an area from Peachland to Lake Country and east along Highway 33 to Westbridge (including the Christian Valley). The Okanagan Mainline Real Estate Board (OMREB) is comprised of 1,151 member REALTORS® and 86 real estate offices in the Southern Interior of BC.

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MEDIA RELEASE
For Immediate Release:
June 3, 2011

Serious Sellers Compete for Spring Home Buyers

Kelowna, BC – The Central Zone of the Okanagan Mainline Real Estate Board (OMREB) reported May 2011 sales activity of all MLS® property types were down compared to sales reported at this time last year but were up from April as serious sellers begin to compete for home buyers moving into Spring.

Overall unit sales during May dipped 17.6% compared to 2010 (to 337 from 409) but rose 13.87% over the previous month (297 in April 2011).

Sales volumes totalled $133.4 million compared to $168.1 million in May 2010.

Total residential units sold last month were down 16.93% compared to 2010 (to 314 from 378) but rose 5.72% from April (272).

Inventory continues to decline over last year at this time – down by 5.92% to 5,217 units compared to 5,545 in May 2010 – with new listings falling by 7.97% over last year (to 1,212 from 1,317), and down 8.1% from last month (1,031 in April).

“Hopefully, the gradual improvement in sales will continue as we move into the summer months and more out of town buyers visit our area.  It is too early to see any consistent trends in the Spring market as many factors have affected consumer confidence and created buyer hesitation to date – from the tightening of mortgage qualifying rules, to HST concerns and referendum uncertainty. As well, distressed prices in the States have added competition for potential recreation, investment and retirement property buyers,” says Kent Jorgenson, OMREB Director and REALTOR® in the Central Zone.

“Buyers still enjoy an excellent selection in the Central Okanagan, and well priced properties are closing sales. We are noticing that houses coming onto the market that are priced to reflect today’s values are selling relatively quickly. To attract buyers in this competitive market, sellers can benefit from working with a professional REALTOR® to price strategically in order to take advantage of increased buyer activity during the Spring months while mortgage rates are expected to remain stable. “

Jorgenson notes the results of OMREB’s Board wide monthly Buyers Survey – launched in September 2010 to profile who the buyers are, what they are buying and where they are from – shows that the majority of buyers are from within the Board area, and indicates that serious buyers are taking advantage of the current market affordability and leveraging their positive purchasing power and low interest rates while they last. First time buyers are a driving factor and they stimulate the chain of ownership.

The Central Zone of OMREB covers an area from Peachland to Lake Country and east along Highway 33 to Westbridge (including the Christian Valley). The Okanagan Mainline Real Estate Board (OMREB) is comprised of 1,144 member REALTORS® and 86 real estate offices in the Southern Interior of BC.

Custom Double Wide

• 1,250 sq. ft., 1 bath, 3 bdrm single story - MLS® $120,000 CAD - Financially Affordable!

Winfield Mobile Home Park, Lake Country East  -  COME SEE THIS immaculate Lake Country custom manufactured home. This spacious double wide features a functional oak cabinet kitchen equipped with a deluxe gas range and huge living room with fireplace. There’s ample room to unwind in the soaker tub in the sizeable bathroom. There's a walk-in closet in the master and this 3 bedroom home is COMPLETELY DRY WALLED with a fresh coat of paint. The dining room has patio doors leading out to the “perfect for entertaining” sundeck. Along with a fully fenced landscaped yard there’s a garden shed, a sturdy lockable tool shed and lots of room to tinker under the high and wide carport. There’s room for an RV!! It is an affordable home and quick possession possible. This is a MUST SEE!

Property information

If you are thinking of buying or selling Kelowna Real Estate, check me out... LET'S CONNECT!!

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May 5, 2011
Housing Market Tempers Going into Spring
Kelowna, BC – The Central Zone of the Okanagan Mainline Real Estate Board (OMREB) reported April 2011 sales activity of all MLS® property types dipped compared to sales reported at this time last year and were softer than the busier than normal market seen earlier this year before tighter credit conditions came into effect.

Inventory continues to decline as the market moves into more balanced conditions – down to 4,888 units compared to 5,309 in April 2010 and up slightly from last month (4,739) – with new listings falling by 24.25% over last year (to 1,031 from 1,361) and 7.78% from last month (1,118). Overall unit sales during April dropped 32.35% compared to 2010 (to 297 from 439) and slipped 12.64% over the previous month (340 in March 2011) and saw April sales volumes totaling $109.98 million compared to $178.62 million in April 2010. Total residential units sold last month declined 31.66% (to 272 from 398 in 2010) and dipped 11% over March (306).

“April sales were milder than the rebound seen during the winter months before tighter credit and slower than expected economic recovery tempered consumer confidence and saw buyers sitting on the sidelines. Surging consumer demand in Metro Vancouver has been driven primarily by immigrant investment, overshadowing moderate results in the rest of BC. Locally, our gradual improvement in market activity is reflective of the overall economy and immigration is not a driving factor here. In fact, we have seen a 25% decline in population growth (migration) since 2009,” says Kent Jorgenson, OMREB Director and REALTOR® in the Central Zone. “Buyers still enjoy an excellent selection in the Okanagan, and sales are happening for well‐priced properties. To attract buyers in this competitive market, sellers need to work with a REALTOR® to price strategically and take advantage of Spring. “

Jorgenson notes the results of OMREB’s Board‐wide monthly Buyers Survey – launched in September 2010 to profile who the buyers are, what they are buying and where they are from – shows that the majority of buyers are from within the Board area, and indicates that serious buyers are taking advantage of the current market conditions and leveraging their positive purchasing power while it lasts. First‐time buyers are a driving factor and they stimulate the chain of ownership.

The Central Zone of OMREB covers an area from Peachland to Lake Country and east along Highway 33 to Westbridge (including the Christian Valley). The Okanagan Mainline Real Estate Board (OMREB) is comprised of 1,144 member REALTORS® and 86 real estate offices in the Southern Interior of BC.

If you are thinking of buying or selling Kelowna Real Estate, check me out... LET'S CONNECT!!

www.facebook.com/KelownaBCRealEstate

twitter.com/808mike

Terrific Family Starter

OPEN HOUSE Sunday May 15th 12pm - 3pm

• 1,820 sq. ft., 2 bath, 4 bdrm single story - MLS® $299,999 CAD - Condo Alternative

Rutland South, Rutland  -  CONDO/TOWNHOUSE ALTERNATIVE! Terrific location for this charming half duplex, situated close to Spring Valley schools, across from Hollydell Park and literally 10 minutes away from anything Kelowna has to offer. This tastefully renovated family home features a fantastic updated kitchen, new flooring, stone work and more. There is plenty of room for parking with space for an RV or boat. The fully fenced yard has a cozy covered patio, lots of lawn, cherry tree and space for a garden. A DEFINITE MUST SEE! Possession is negotiable.

Listing information

If you are thinking of buying or selling Kelowna Real Estate, check me out... LET'S CONNECT!!

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Kelowna, Rutland  -  We invite everyone to visit our open house at 1155 Graf Road on April 10 from 12:00 PM to 2:00 PM.This is a great family home on the Rutland bench within walking distance to schools, parks and the YM-YWCA.

Open House Listing Information

If you are thinking of buying or selling Kelowna Real Estate, check me out... LET'S CONNECT!!

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MEDIA RELEASE
For Immediate Release:
April 6, 2011

Housing Market Continues to Stabilize Moving into Spring

Kelowna, BC – The Central Zone of the Okanagan Mainline Real Estate Board (OMREB) reported March 2011 sales activity of all MLS® property types improved over last month but dipped compared to sales reported at this time last year when buyers were spurred into the market early in the first quarter to avoid the impending HST. The local housing market continues to stabilize and show more balanced conditions moving into Spring.

While active listings and inventory were down from March 2010 (4,750 units compared to 4,959 last year), the 1,122 new listings taken fell by 17.85% over last year (1,361) but rose 10.43% from last month (1,016). Overall unit sales and total sales volumes dropped 12.14% this March (to 340 from 387 – totaling $129.34 million compared to $150.51 million in 2010), and total residential units sold declined 12.57% (to 306 from 350 in 2010) but climbed 39.09% over February (220). The average price for a single family home is up 5.89% compared to last year at this time ($486,609 from $459,546), while the median price rose 2.06% ($433,750 from $425,000 in 2010).

“Gradual but steady economic improvement, population and employment growth has returned the BC housing market to normalcy after two years of volatility. News of rising interest rates could create a sense of urgency and stimulate demand as many buyers choose to get into the market while rates are still relatively low,” says Kent Jorgenson, OMREB Director and REALTOR® in the Central Zone. “With Spring on the way, we can expect to see more sellers listing their homes, and potential buyers closing deals before mortgage rates are raised further. Compared to the heated Lower Mainland market, the Central Okanagan continues to offer an excellent selection of properties and attractive home prices for anyone looking to buy here – whether they are first‐time buyers, moving up, downsizing or retiring.”

The results of OMREB’s Board‐wide monthly Buyers Survey – launched in September 2010 to profile who the buyers are, what they are buying and where they are from – indicates that serious buyers are taking advantage of the current market conditions and leveraging their positive purchasing power while it lasts, Jorgenson notes.

“Pricing continues to be important when selling your home, so working with a real estate professional to understand current local market conditions and to provide comparisons specific to your neighbourhood is essential as home values vary based on property type and location.”

The Central Zone of OMREB covers an area from Peachland to Lake Country and east along Highway 33 to Westbridge (including the Christian Valley). The Okanagan Mainline Real Estate Board (OMREB) is comprised of 1,147 member REALTORS® and 86 real estate offices in the Southern Interior of BC.

If you are thinking of buying or selling Kelowna Real Estate, check me out... LET'S CONNECT!!

www.facebook.com/KelownaBCRealEstate

twitter.com/808mike 

 

Rutland North, Kelowna  -  We invite everyone to visit our open house at 1155 Graf Road on March 26 from 12:00 PM to 4:00 PM.

VIEW, VIEW, VIEW! Panoramic city, valley and lake view home for sale backing onto ALR. This fantastic family home is set in a quiet neighborhood on a no-thru road up on the bench just above the YMCA-YWCA and within walking distance to the Rutland schools and parks. This home features 2 bedrooms upstairs and kitchen, dining and living rooms plus bonus sunroom also on the main level. There is a newer 2 bedroom in-law suite downstairs (not legal) with separate entrance and laundry currently rented for $900.00. The spacious pool sized backyard has mature landscaping and spacious sundeck for entertaining. There’s an attached oversized double garage and plenty of parking spaces outside with room for an RV or boat. THIS IS YOUR HOME! Speedy possession is possible! Did I mention the view?? 

Property information

If you are thinking of buying or selling Kelowna Real Estate, check me out... LET'S CONNECT!!

www facebook.com/MyKel.ca

www.facebook.com/KelownaBCRealEstate

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Dilworth Mountain, Kelowna  -  We invite everyone to visit our open house at 1067 Cascade Place on March 13 from 1:00 PM to 4:00 PM.You will fall in love with this beautiful home and large yard. If your family is growing and needs a larger home, this is the one. Come and see for yourself!

Property information

If you are thinking of buying or selling Kelowna real estate, check me out... LET'S CONNECT!!

www facebook.com/MyKel.ca

www.facebook.com/KelownaBCRealEstate

twitter.com/808mike 

OMREB MEDIA RELEASE

March 3, 2011

Kelowna, BC – The Central Zone of the Okanagan Mainline Real Estate Board (OMREB) reported February 2011 sales activity of all MLS® property types improved over last month but were down from sales reported at this time last year as buyer interest was curtailed by poor weather conditions. With new listings up from January and overall inventory remaining similar to February 2010, a good selection of properties continues for buyers.

While active listings and inventory paralleled February 2010 numbers (4,506 units compared to 4,401 last year),
the 1,016 new listings taken fell by 7.21% over last year (1,095) but rose 18.27% from January (859). Compared to last February, overall unit sales and total sales volumes dropped 24.84% (to 233 from 310 – totaling $90.12
million compared to $121.44 million in 2010), and total residential units sold declined 19.12% (to 220 from 272 in
2010) but climbed 15.18% from January (191).

“As the BC housing market returns to normalcy after two years of volatility, the Okanagan will move from a
buyers’ market towards more balanced conditions and price stability. Improved economic conditions, population
and employment growth should boost consumer demand and fuel sales during the coming months,” says Brenda
Moshansky, OMREB President and REALTOR® in the Central Zone. “Moving into Spring, we can expect to see
more sellers listing their homes, and potential buyers locking into low mortgage rates and closing deals before
lending and refinancing criteria tighten. Excellent property choice and attractive home prices in the Central
Okanagan will continue to provide great opportunities for buyers – especially while the Lower Mainland market
remains heated and prices inflated.”

OMREB’s new Board‐wide monthly Buyers Survey – launched in September 2010 to profile who the buyers are
and where they are from – indicates that serious buyers are taking advantage of the current market conditions
and leveraging their positive purchasing power while it lasts, Moshansky notes.

She adds, “Pricing continues to be important when selling your home, so working with a real estate professional
to understand current local market conditions and to provide comparisons specific to your neighbourhood is
essential as home values vary based on property type and location.”

The Central Zone of OMREB covers an area from Peachland to Lake Country and east along Highway 33 to
Westbridge (including the Christian Valley). The Okanagan Mainline Real Estate Board (OMREB) is comprised of
1,149 member REALTORS® and 86 real estate offices in the Southern Interior of BC.

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If you are thinking of buying or selling Kelowna real estate, check me out... LET'S CONNECT!!

www.MyKel.ca

www facebook.com/MyKel.ca

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Rutland North, Rutland  -  Announcing a price reduction on 1155 Graf Road, a 2,224 sq. ft., 2 bath, 4 bdrm single story. Now MLS® $389,900 CAD - Suite Deal!.

Property information

If you are thinking of buying or selling Kelowna real estate, check me out... LET'S CONNECT!!

www.MyKel.ca 

www.facebook.com/KelownaBCRealEstate

http://twitter.com/808mike

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1 Bed + Studio Suite

• 1,261 sq. ft., 2 bath, 2 bdrm apartment - MLS® $195,900 CAD - 2 for 1 Condos

Big White, Kelowna  -  2 for 1 Condos @ Big Whit Ski Resort! Very spacious unit on 2 separate titles includes a 1 bedroom, 1 bathroom condo with a sunken living room and fireplace plus a joining studio unit featuring a kitchenette, its own fireplace & bathroom. The studio has a separate entrance from the hall as well as a connecting lock off door to the main condo. The Moguls building features underground parking a hot tub room and you are able to ski in/ski out from this floor!

Click on the link below for more pictures of this fab Big White Real Estate Listing.

Big White Listing Info

If you are thinking of buying or selling Kelowna real estate, check me out... LET'S CONNECT!!

www.MyKel.ca 

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