by Macrealty Marketing Team | Feb 8, 2022 | Buying Real Estate, Industry, Market Insights, Selling Real Estate
Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in January 2022.
Find the infographics by visiting the Facebook Album.
Central Okanagan: Kelowna and Lake Country
There were 157 sales, 267 active listings, and $1,037,500 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.
The condo market featured 103 sales and 198 active listings at the end of the month. The average sale price was $515,700. Townhome sales were 67, active listings were 94 and the average sale price was $697,300. 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 $711,600. At the end of the month, there were 57 sales and 89 active listings. There were 23 sales and 29 active listings for condos. The average sale price was $326,500. In comparison, townhomes featured 25 sales, 30 active listings and a $460,100 average sale price. It’s a seller’s market in North Okanagan.
South Okanagan
There were 57 sales, 128 active listings, and $699,000 average sale price for detached homes in the South Okanagan market.
The condo market featured 25 sales and 76 active listings at the end of the month. The average sale price was $387,300. Townhome sales were 16, active listings were 29 and the average sale price was $438,400. It’s a seller’s market for single family homes and townhomes 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/.
by Macrealty Marketing Team | Jan 10, 2022 | Buying Real Estate, House and Home, Industry, Market Insights, Selling Real Estate
Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Saanich Peninsula, Parksville/Qualicum, and Nanaimo listings and sales in December 2021. Find all the infographics related to the November Market Statistics by visiting the Facebook Album.
A total of 438 properties sold in the Victoria Real Estate Board region this December, 30.6 per cent fewer than the 631 properties sold in December 2020 and a 32.9 per cent decrease from November 2021. Sales of condominiums were down 22.1 per cent from December 2020 with 152 units sold. Sales of single family homes decreased 34.1 per cent from December 2020 with 207 sold.
A grand total of 10,052 properties sold over the course of 2021, 18.3 per cent more than the 8,497 that sold in 2020. 2021 sales came in close to 2016’s record breaking sales year where 10,622 properties were sold.
“The theme of this year has been very consistent,” says 2021 Victoria Real Estate Board President David Langlois. “Each month a high demand for homes paired with record low inventory has put strong pressure on pricing and attainability and has made the local and global housing market a top news item and political talking point. We see stories from many countries highlighting the increasing desirability of home ownership in the wake of the pandemic. We leave this year with the lowest number of properties for sale that we have had on record – but with such strong demand that most transactions see multiple offers.”
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.
by Macrealty Marketing Team | Jan 10, 2022 | Buying Real Estate, Industry, Market Insights, Selling Real Estate
Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in December 2021.
Find the infographics by visiting the Facebook Album.
Central Okanagan: Kelowna and Lake Country
There were 256 sales, 153 active listings, and $1,004,900 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.
The condo market featured 189 sales and 109 active listings at the end of the month. The average sale price was $511,700. Townhome sales were 53, active listings were 83 and the average sale price was $687,600. 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 $709,400. At the end of the month, there were 63 sales and 92 active listings. There were 13 sales and 40 active listings for condos. The average sale price was $323,300. In comparison, townhomes featured 21 sales, 30 active listings and a $455,200 average sale price. It’s a seller’s market in North Okanagan.
South Okanagan
There were 43 sales, 135 active listings, and $714,700 average sale price for detached homes in the South Okanagan market.
The condo market featured 12 sales and 62 active listings at the end of the month. The average sale price was $380,000. Townhome sales were 14, active listings were 31 and the average sale price was $475,900. It’s a seller’s market for single family homes and townhomes 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/.
by Macrealty Marketing Team | Dec 7, 2021 | Buying Real Estate, House and Home, Industry, Market Insights, Selling Real Estate
Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Parksville/Qualicum, and Nanaimo listings and sales in November 2021. Find all the infographics related to the November Market Statistics by visiting the Facebook Album.
According to the Victoria Real Estate Board, there is no change on the horizon for the Victoria real estate market.
A total of 653 properties sold in the Victoria Real Estate Board region this November, 17.9 per cent fewer than the 795 properties sold in November 2020 and 12.3 per cent fewer than the previous month of October. 236 condominiums sold, 5.2 per cent fewer than in the previous month of October. 276 single family homes sold, 18.6 per cent fewer than in the previous month of October.
“Strong demand for housing in our community continues to exceed the ultra-low number of listings of homes available for sale,” said Victoria Real Estate Board President David Langlois. “This demand creates competition and pressure on pricing and we continue to see home values notch up. At this moment in time, there are fewer than 600 residential properties for sale in our market.”
Greater Victoria
Nanaimo
Parksville / Qualicum
Looking for more information about the real estate market in specific neighbourhoods in Victoria, 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.
by Macrealty Marketing Team | Dec 7, 2021 | Buying Real Estate, Industry, Market Insights, Selling Real Estate
Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in November 2021.
Find the infographics by visiting the Facebook Album.
Central Okanagan: Kelowna and Lake Country
There were 252 sales, 354 active listings, and $978,500 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.
The condo market featured 163 sales and 222 active listings at the end of the month. The average sale price was $495,400. Townhome sales were 67, active listings were 108 and the average sale price was $688,600. 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 $703,500. At the end of the month, there were 109 sales and 126 active listings.
There were 24 sales and 37 active listings for condos. The average sale price was $312,900.
In comparison, townhomes featured 29 sales, 47 active listings and a $452,200 average sale price.
It’s a seller’s market in North Okanagan.
South Okanagan
There were 86 sales, 176 active listings, and $697,800 average sale price for detached homes in the South Okanagan market.
The condo market featured 34 sales and 74 active listings at the end of the month. The average sale price was $365,500.
Townhome sales were 24, active listings were 43 and the average sale price was $461,000.
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/.
by Macrealty Marketing Team | Nov 5, 2021 | Buying Real Estate, Industry, Market Insights, Selling Real Estate
Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in October 2021.
Find the infographics by visiting the Facebook Album.
Central Okanagan: Kelowna and Lake Country
There were 250 sales, 464 active listings, and $961,600 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.
The condo market featured 154 sales and 239 active listings at the end of the month. The average sale price was $477,700. Townhome sales were 91, active listings were 136 and the average sale price was $685,900. 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 $693,800. At the end of the month, there were 91 sales and 180 active listings.
There were 25 sales and 43 active listings for condos. The average sale price was $301,200.
In comparison, townhomes featured 34 sales, 49 active listings and a $437,200 average sale price.
It’s a seller’s market in North Okanagan.
South Okanagan
There were 100 sales, 231 active listings, and $673,800 average sale price for detached homes in the South Okanagan market.
The condo market featured 37 sales and 88 active listings at the end of the month. The average sale price was $363,000.
Townhome sales were 25, active listings were 57 and the average sale price was $462,200.
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/.
