Okanagan Real Estate Market Statistics – June 2022

Okanagan Real Estate Market Statistics – June 2022

Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in June 2022.
Find the infographics by visiting the Facebook Album.

Central Okanagan: Kelowna and Lake Country

There were 160 sales, 1,046 active listings, and $1,112,400 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.

The condo market featured 102 sales and 408 active listings at the end of the month. The average sale price was $537,200. Townhome sales were 77, active listings were 290 and the average sale price was $763,800. It’s a seller’s market in Central Okanagan.

 

North Okanagan: Vernon and surrounding area

In North Okanagan, including Vernon and the surrounding area and the average sale price was $798,500. At the end of the month, there were 104 sales and 304 active listings. There were 17 sales and 53 active listings for condos. The average sale price was $335,000. In comparison, townhomes featured 30 sales, 65 active listings and a $597,500 average sale price. It’s a seller’s market in North Okanagan.

South Okanagan

There were 79 sales, 390 active listings, and $816,300 average sale price for detached homes in the South Okanagan market.
The condo market featured 39 sales and 111 active listings at the end of the month. The average sale price was $438,200. Townhome sales were 20, active listings were 94 and the average sale price was $601,400. It’s a seller’s market in South Okanagan.

Looking for more information about the real estate market in specific neighbourhoods in Okanagan? 

Macdonald Realty has offices in Kelowna and across BC. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
This blog post is based on market data provided by the Association Of Interior REALTORS® https://www.interiorrealtors.ca/.

Jeannie Shaver Appointed Managing Broker for Macdonald Realty Parksville

Jeannie Shaver Appointed Managing Broker for Macdonald Realty Parksville

We are proud to announce that effective July 1st, 2022 Jeannie Shaver has been appointed Managing Broker for Macdonald Realty’s boutique office in Parksville.  Born and raised on Vancouver Island, Jeannie joined Macdonald Realty as an agent in 2018 and received the company’s Sales Achievement Award in each of the next 3 years.  Active in the Oceanside community, Jeannie has served on the board and managed the Qualicum Beach Farmers Market, as well as serving on the Official Community Plan Review Steering Committee in Qualicum Beach.  She will continue to assist clients with buying and selling properties in the community, while also helping to expand Macdonald Realty’s presence in Central Vancouver Island.

“We’re excited to work with Jeannie to grow our Parksville office,” says Rosey Hudson, VP of Operations for Macdonald Real Estate Group.  “For agents, Macdonald Realty offers many leading technology tools such as Skyslope for efficient transaction management, kvCORE their agent website, lead generation and CRM, and the Macdonald Online Marketing Centre for quick listing brochures and social media posts.  For the public, our marketing channels cover digital, local print and global syndication through the Leading Real Estate Companies of the World and Luxury Portfolio International networks.   Best of all, as a locally owned company, Macdonald Realty is able to focus 100% of our efforts on building programs and services for people who live and work in BC.”

Those who are interested in joining a brokerage in the Parksville-Oceanside area can connect with Jeannie by visiting careersinBCrealestate.com to schedule a meeting.

Okanagan Real Estate Market Statistics – May 2022

Okanagan Real Estate Market Statistics – May 2022

Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in May 2022.
Find the infographics by visiting the Facebook Album.

Central Okanagan: Kelowna and Lake Country

There were 243 sales, 842 active listings, and $1,130,400 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.

The condo market featured 164 sales and 303 active listings at the end of the month. The average sale price was $551,800. Townhome sales were 91, active listings were 213 and the average sale price was $829,800. It’s a seller’s market in Central Okanagan.

North Okanagan: Vernon and surrounding area

In North Okanagan, including Vernon and the surrounding area and the average sale price was $807,600. At the end of the month, there were 107 sales and 265 active listings. There were 19 sales and 31 active listings for condos. The average sale price was $342,600. In comparison, townhomes featured 28 sales, 53 active listings and a $633,600 average sale price. It’s a seller’s market in North Okanagan.

South Okanagan

There were 98 sales, 316 active listings, and $826,200 average sale price for detached homes in the South Okanagan market.
The condo market featured 39 sales and 108 active listings at the end of the month. The average sale price was $433,800. Townhome sales were 22, active listings were 77 and the average sale price was $606,200. It’s a seller’s market in South Okanagan.

Looking for more information about the real estate market in specific neighbourhoods in Okanagan? 

Macdonald Realty has offices in Kelowna and across BC. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
This blog post is based on market data provided by the Association Of Interior REALTORS® https://www.interiorrealtors.ca/.

Greater Victoria, Saanich Peninsula, Parksville and Nanaimo Real Estate Market Statistics – May 2022

Greater Victoria, Saanich Peninsula, Parksville and Nanaimo Real Estate Market Statistics – May 2022

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Saanich Peninsula, Parksville/Qualicum, and Nanaimo listings and sales in May 2022. Find all the infographics related to the May Market Statistics by visiting the Facebook Album.

A total of 761 properties sold in the Victoria Real Estate Board region this May, 27.5 per cent fewer than the 1,049 properties sold in May 2021 and a 7.6 per cent decrease from April 2022. Sales of condominiums were down 23.1 per cent from May 2021 with 250 units sold. Sales of single family homes decreased 31.7 per cent from May 2021 with 367 sold.

“The real estate market in Greater Victoria is returning to a steadier pace following the strange two years we experienced over the course of the pandemic,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “While inventory is still below historical levels for a spring market, it is now within our pre-pandemic five-year average, which is good news for buyers. The increase in inventory provides buyers with more options, and we are seeing market activity and price points differ within the unique neighbourhoods that make up Greater Victoria. During a changing market like the one we see now, it is more important than ever to have an expert on your side – whether you are buying or selling it’s a great time to give your favourite REALTOR® a call.”

There were 1,776 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of May 2022, an increase of 30.1 per cent compared to the previous month of April and a 22.5 per cent increase from the 1,450 active listings for sale at the end of May 2021.

“Looking to the future of the market, the Board has reviewed the British Columbia Financial Services Authority (BCFSA) report which the government requisitioned to guide the deployment of their cooling-off plan,” adds President Dinnie-Smyth. “We are aligned with BCFSA on the importance of consumer protection in real estate and see areas of the BCFSA report which reflect the Victoria Real Estate Board’s and the British Columbia Real Estate Association’s recommendations – specifically the concept of a five-day pre-offer period. However, the BCFSA report leaves detailed process and procedural questions unanswered. The government will need to do more consultation with industry stakeholders prior to implementation to ensure these changes are without negative consequences to consumers and to the market.”

 

Greater Victoria

Saanich Peninsula

Nanaimo

Parksville / Qualicum

Looking for more information about the real estate market in specific neighbourhoods in Victoria, Saanich Peninsula, Parksville, Nanaimo, Vancouver Island and the Gulf Islands? 

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – May 2022

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – May 2022

According to the Fraser Valley Real Estate Board, As property sales continue to fall in the Fraser Valley and active listings continue to grow, the region is edging towards more balanced levels not seen since the pre-pandemic period.

Sales of all property types in May were 1,360, down 16.9 per cent from April’s 1,637; and down 53.9 per cent compared to May of 2021.

At the same time, active listings (the number of properties available for sale at a given moment during the month, in this case at the end of May) have more than tripled since December 2021. At the end of May, actives sat at 6,183, up 5.4 per cent year-over-year, and an increase of 14.8 per cent compared to April 2022.

The sales-to-active-listings ratio measures whether the market is balanced (12% to 20%) or favours either buyers (less than 12%) or sellers (greater than 20%). In May, the ratio for Fraser Valley all property types combined was 22
per cent, comparable to pre-pandemic conditions in early 2020. By comparison, during the pandemic, the ratio peaked at 92 per cent, indicating a strong seller’s market.

“Since March, we’ve seen sales come down with an accompanying increase in inventory, subsequently restoring much-needed balance and cooling our heated market,” said Fraser Valley Real Estate Board President, Sandra
Benz. “While still early, it suggests that as we gradually settle into a post-pandemic state of work and life, the big pandemic-era drivers – working from home and record low interest rates – may have run their course.”

In May, MLS® HPI Benchmark prices for all three main property types decreased month-over-month for the first time since September 2019.

“The softening of prices will be welcome news for homebuyers, especially in the face of rising mortgage rates,” said Fraser Valley Real Estate Board CEO, Baldev Gill. “The volatility we’ve witnessed over the past couple of years not only underscores the power of external events to affect the market but, in light of recent trends, the ability of the market itself, to adapt and trigger corrective mechanisms.”

Find all the infographics related to the May Market Statistics by visiting the Facebook Album.

Abbotsford

Cloverdale

Langley

Mission

North Delta

North Surrey

Surrey Central

White Rock / South Surrey

 

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca