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April 2013: Market Trend or Fluke?

08. May 2013 · Write a comment · Categories: Newsletter

Kelowna Real Estate Market Update

Kelowna April 2013 News

Kelowna Market Update

We are happy to report that as we see improvement in the weather, we also see more action in real estate here in Kelowna and area especially in the $700K plus home sales. Consumer confidence is increasing and April came out very strong in the number of sales, as it was the best April since 2008 with 216 Single Family Dwellings changing hands. Although we caution that one month doesn’t indicate a market trend, it is encouraged by increased showings, the number of sales and we are looking forward to a fantastic May, which is historically the best month of the year.

We saw 28 properties selling over $700,000 and 9 over $1Million including lakefront and acreages. The activity in the upper price range also helped to bring the average price back up from $416,000 last month to $460,000 where it belongs.

We are receiving good news from the US and we also see the Albertans returning to the Okanagan. According to the March buyers survey by OMREB, 17.9% of the buyers were from Alberta. We have the climate, the mountains, the lake, fruit, wine and that is what people like.

Kelowna And Area Single Family Dwellings (SFD) Activity
Sales in the Single Family Dwellings (SFD) reached 216 in April which is 20% above April 2012 and just below our 21 year average, of 220 sales.
Listings The number of active listings is 1,587 virtually the same as last year April. YTD the total listings taken is 3.5% lower than the same period last year.
Percentage of Listings vs. Sales. We are still in a buyer’s market with 13.6% of the listing inventory selling last month, which is the highest since 2008. March was the lowest since 2009.
Average Price is down.
The average price here in Kelowna was $460,351 last month which is still below last year’s April by 4.5%. Year to Date, we are at $441,182, slightly lower by 2.5% than 2012.
Million $ Plus

The MLS system shows that 9 residential properties sold in April over $1 Million. These were: 3 Acreages, 1 Lakefront home, 1 Large Lot and 4 Single Family Dwellings.
Conclusion

Our average price bounced back up since we had more activity in the upper price range. Sales are up and the percentage of sales to listing ratio is climbing. This is very encouraging, but at the same time, we have to be careful, as one month does not indicate a trend.

Watch Wolf and Colin’s video

It has been almost a year since the federal government enacted stricter mortgage lending guidelines. It is realistic to surmise that some households, who originally put their decision to purchase on hold, are once again looking to buy.

The greatest compliment we can receive are the referrals from our clients, friends and acquaintances.

Major Cities Report
Victoria:	Greater Victoria Residential Real Estate Transitions to a Balanced Market Total number of sales for April was 615, a 5% increase compared to April 2012 with 586 sales. On the residential side, more properties are selling, and slightly fewer are entering the market, so we are moving from a buyers’ market to more balanced market conditions. Prices remained relatively flat and, there were 367 single family homes sold in April at a median price of $540,000, 30 Single Family Dwellings sold over $1 million (5 over $2 million)

Vancouver:	Spring Delivers Greater Balance Last month’s sales equate to the lowest April total in the region since 2001 and 20.9% below the 10-year sales average for the month. The sales-to-active-listings ratio currently sits at 15.7% in Greater Vancouver. This is the second consecutive month that this ratio has been above 15%. Previous to this, May 2012 was the last time this ratio was above 15%. There have been modest increases in home prices across the region over the last three months. This comes on the heels of home price declines of approximately 5-6% in Greater Vancouver during the last half of 2012. The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $597,300. This represents a decline of 3.9 % compared to this time last year and an increase of 1.6 % compared to January 2013. Sales of detached properties reached 1,064 in April 2013, a decrease of 5.5% from the 1,126 detached sales recorded in April 2012, and a 24.1% decrease from the 1,402 units sold in April 2011. The benchmark price for detached properties decreased 5.2% from April 2012 to $914,000. Since January the benchmark price of a detached home has increased 1.4%.

Calgary:	Single Family Dwelling Prices Reach a New High For the first time since 2007, conditions favour the seller. The benchmark price of single family homes reached a new high of $452,900 in April, as market conditions that favour the seller finally drove prices above the unadjusted peak in 2007. Residential year-to-date sales improved by nearly 4% compared to the same time in 2012. Meanwhile, citywide benchmark prices totaled $406,000 a 7% rise over the previous year.

Edmonton:	Stability Marks Spring’s Real Estate Activity Estimated SFD sales of 1,037 units (960 actual) were down 4.4% from last year but condominium sales increased 4.1% year-over-year to 459 estimated sales (425 actual). In April, the average price for a single family detached home was $402,270 (down 3.5% from March). The average priced condo sold for $243,503 (down 1.3% m/m) and duplex and rowhouses prices were up 2.8% to $324,975 on average.

Toronto:	Market Conditions Promote Price Growth in April Greater Toronto reported 9,811 sales through the Toronto MLS system in April 2013, representing a dip of 2% in comparison to 10,021 transactions in April 2012. Both new listings during the month and active listings at the end of April were up on a year-over-year basis. The average selling price for April 2013 transactions was $526,335 – up by 2% in comparison to April 2012. The MLS® HPI Composite Benchmark Price was up by 2.9%t.

Single Family Home Average Price 2010 – 2013

Single Family Home Average Price Graph 2000 - 2008

Number of Sold Single Family Dwellings2010 – 2013

ber of Sold Single Family Dwellings Graph 2005 - 2008

Single Family Listing Inventory 2010 – 2013

Single Family Listing Inventory Graph 2005 - 2008

Single Family Percentage of Sales to Listing Ratio 2009 – 2013

(Percentage of How Many Listings Sell in a Month)

Single Family Percentage of Sales to Listing Ratio

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250-868-8000
info@wolfhomes.com
RE/MAX Kelowna

#100 – 1553 Harvey Av.

Kelowna, BC, V1Y 6G1

Each Office Independently Owned and Operated.

What is Canada’s Real Estate Forecast?

11. April 2013 · Write a comment · Categories: Video Market Updates

Wolf and Colin discuss the average price for homes in Kelowna and how the listing inventory is slowly coming down. Colin talks about the forecast from the Canadian Real Estate Association (CREA) and where they think Canada is headed this year. They also discuss the most active area of the Kelowna real estate market.

Looking Forward to a Strong Spring, But Still in a Buyers Market

11. April 2013 · Write a comment · Categories: Newsletter

Kelowna Real Estate Market Update

Kelowna March 2013 News

Kelowna And Area Single Family Dwellings (SFD) Activity
Sales in the Single Family Dwellings (SFD) reached 154 in March which is 8% below March 2012 and also below our 21 year average, of 202 sales.
Listings show a slight decrease to a total of 1,489 which is 0.2% lower than last year’s March.
Percentage of Listings vs. Sales. We are still clearly in a buyer’s market at only 10.3% of the listing inventory selling last month, which is the lowest since 2009.
Average Price
The average price here in Kelowna was $416,363 last month which is below last year’s March by 9%. Year to Date, we are at $430,167; slightly lower than 2012.
Million $ Plus
The MLS system shows that 7 residential properties sold in March over $1 Million. These were: 3 Acreages, 1 Townhome on the lake, 1 Penthouse, 1 Lakefront home, and 1 Single Family Dwelling.
Conclusion
The upper price range of $700,000+ was very slow last month, this kept the average price down. The best deals are always created in a very competitive market.

2013 Housing Forecast Update
British Columbia Real Estate Association (BCREA)

BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 5.6% to 71,450 units this year, before increasing a further 6.1% to 75,830 units in 2014. The five-year average is 74,600 unit sales, while the ten-year average is 86,800 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.
“2013 is shaping up to be a transition year in the BC housing market,” said Cameron Muir, BCREA Chief Economist. “The groundwork has already begun for stronger housing demand as a significant number of part-time jobs in BC were converted into fulltime employment last year.”
“Residential values are expected to be on a more solid footing in 2013 as lower prices, both actual
and inflation adjusted, have improved affordability. Many potential buyers that stayed on the sidelines in 2012 will likely enter the marketplace over the next year as the relatively strong financial condition of BC households precludes any deflationary spiral.”

Watch Wolf and Colin’s video

According to CMHC, the proportion of residential mortgages that were three months or more behind was trending down in 2011 and the first half of 2012, with an average of 0.41% and 0.36% respectively. This is lower than the average of 0.43% in 2010, and slightly above the average of 0.33% in the previous decade (2001-2010).

The greatest compliment we can receive are the referrals from our clients, friends and acquaintances.

Major Cities Report
Victoria:	Market Activity Follows Traditional Real Estate Cycle in Greater Victoria A total of 483 sales were processed through the Multiple Listing Service (MLS®) in March 2013, an increase of 23% over the previous month. Sales figures are 15% lower than March 2012′s 570 sales. The median price of a single-family home is $510,777 compared to $555,000 in March 2012, a decrease of 8%. The six-month average shows a decrease of less than 1% month-over-month. Annual differences are skewed by four single-family home sales over $2 million in March 2012. In March 2013, 15 (1 over $2 million) Single Family Dwellings sold over $1 million

Vancouver:	Home Sales Activity Improves But Remains Below Historical Averages The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,347 on the Multiple Listing Service® (MLS®) in March 2013. This represents an 18.3% decrease compared to the 2,874 sales recorded in March 2012, and a 30.6% increase compared to the 1,797 sales in February 2013. The sales-to-active-listings ratio currently sits at 15.2% in Greater Vancouver, a 3% increase from last month. This is the first time this ratio has been above 15% since May 2012. The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $593,100. This represents a decline of 3.9% compared to this time last year and an increase of 0.9% compared to January 2013. Sales of detached properties reached 933 in March 2013, a decrease of 21.1% from the 1,183 detached sales recorded in March 2012, and a 48% decrease from the 1,795 units sold in March 2011. The benchmark price for detached properties decreased 5% from March 2012 to $906,900.

Calgary:	Tightened Housing Supply Curbs Sales Volume Single-family, year-over-year sales growth declined by 6% in March, a reflection of declining supply. Active inventory totaled 2,713 units, 22% lower than levels recorded in 2012, and the lowest March inventory level recorded since 2007. The market balance continues to trend into seller’s territory in this segment causing a year-over-year price increase of nearly 9%, for a total of $446,500 in March 2013.

Edmonton:	Housing Prices and Sales Up with Balanced Market The all-residential price (includes single family, condos, duplexes and row-houses) rose 3.5% in a month and single family detached prices were up 3.9%. Compared to March 2012, the all residential price was up 4.3% and the SFD price was up 7.0%. The average price for a single family detached home was $416,739 in March, condos were priced at $246,574 (up 6.3% m/m), duplex and rowhouses at $316,110 (down 4.9% m/m) and the all-residential average price was $354,759. Single Family Dweling prices peaked in May of 2007 at $424,400.

Toronto:	Average Price Up In March And First Quarter In the first quarter of 2013, sales amounted to 17,678 – down by 14%compared to the first quarter of 2012. Home ownership remains affordable for a household earning the average income in the Greater Toronto Area. The average selling price in March was $519,879 – up by 3.8 %compared to March 2012.

Single Family Home Average Price 2010 – 2013

Single Family Home Average Price Graph 2000 - 2008

Number of Sold Single Family Dwellings 2010 – 2013

ber of Sold Single Family Dwellings Graph 2005 - 2008

Single Family Listing Inventory 2010 – 2013

Single Family Listing Inventory Graph 2005 - 2008

Single Family Percentage of Sales to Listing Ratio 2009 – 2013
(Percentage of How Many Listings Sell in a Month)

Single Family Percentage of Sales to Listing Ratio

Featured Property

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250-868-8000 info@wolfhomes.com RE/MAX Kelowna #100 – 1553 Harvey Av. Kelowna, BC, V1Y 6G1
Each Office Independently Owned and Operated.

March 2013 – Kelowna Real Estate Market Update

12. March 2013 · Write a comment · Categories: Newsletter

Kelowna Real Estate Market Update

Great News

Kelowna February 2013 News
Good news! Fantastic long term mortgage rates below 3% are making real estate more affordable!
We are noticing more showings on our listings. We were showing homes in the $400K range the other day and at one of the properties we had 2 showings at the same time and at a different property had 3 showings at the same time. This is not something we have experienced too often in the recent past, we are also hearing about several double offers. We are looking forward to the great weather and that spring will spark more activity.
It is also important to be realistic and the numbers are the numbers, whether we like it or not. We are still very clearly in a buyers market with only 8.6% of the listing inventory of single family dwellings selling. Townhomes sit at 7.7% and for apartments it is even lower, only 5.5% of the inventory sold last month. The average of everything in Kelowna is 7.9%, Calgary is 27% and Vancouver comes in at 12.2%.

Kelowna And Area Single Family Dwellings (SFD) Activity
Sales in the Single Family Dwellings (SFD) reached 114 in February which is 12% below February 2012 and below our 21 year average, of 155 sales.
Listings show a slight decrease to a total of 1,320 which is 2% lower than last year’s February.
Percentage of Listings vs. Sales. We are still clearly in a buyer’s market at only 8.6% of the listing inventory selling, which fell below Feb. 2012 by 1%.
Average Price Holding Steady
The average price here in Kelowna was $415,845 last month which is below last year’s February by 5%, but Year to Date we are at $439,786 and up by 2.8% over 2012.
Million $ Plus
The MLS system shows that only two residential properties sold in January over $1 Million. These were: 1 Acreage and 1 Single Family Dwelling.
Conclusion
The signs are on the horizon and hinting to a strong spring market with fantastic mortgage rates and a booming Calgary market! This is a great time to buy real estate in Kelowna!

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Watch Wolf and Colin’s video

The greatest compliment we can receive are the referrals from our clients, friends and acquaintances.

Major Cities Report
Victoria:	Spring Perks Up Greater Victoria Real Estate Market 394 sales were processed through the Multiple Listing Service (MLS®) in February, an increase of 34% over the previous month. The median price of a single family home is $505,500 compared to $530,250 in February 2012, a decrease of 4.67%. The six-month average shows an increase of less than one percent year-over-year, and a less than one percent decrease over last month 11 (3 over $2 million) Single Family Dwellings sold over $1 million

Vancouver:	Home Sales Continue at Below Average Pace The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,797 on the Multiple Listing Service® (MLS®) in February 2013. This represents a 29.4% decrease compared to February 2012, and a 33% increase compared to January 2012. Last month’s sales were the second lowest February total in the region since 2001 and 30.9% below the 10-year sales average for the month. The sales-to-active-listings ratio currently sits at 12.2% in Greater Vancouver, a 2% increase from last month. Sales of detached properties in February 2013 reached 704, a decrease of 36.1% from February 2012. The benchmark price for detached properties decreased 4.5% from February 2012 to $901,500. Since reaching a peak in May 2012, the benchmark price of a detached property has declined 6.8%.

Calgary:	Calgary’s Resale Condo Market Shows Signs of Life Double digit year-over-year condominium sales growth have made significant gains increasing by 13% relative to February 2012. Year-over-year single family sales totaled 1,209 units in the month of February, as supply levels continued to decline, limiting choice for those in the market. The unadjusted single family benchmark price for February 2013 was $442,500, a 1.3% increase over the previous month and 9% higher than levels recorded in February 2012.

Edmonton:	Local Housing Market Remains Active While the average price for a single family detached home broke through a psychological barrier at $400,973 in February ($399,832 in January), it was up just 0.3%. Sales of properties priced $425,000 to $550,000 have increased 19% so far this year, whereas sales of properties in the $200,000 to $375,000 range are down 9.6% compared to the first two months of 2012. As of February 28, 2013, there were 4,183 residential properties listed in the MLS® System which reflects a 4.14 month supply at current sales levels. The days-on-market was 57 as compared to 53 last year.

Toronto:	Price Growth Continues in February Greater Toronto Area (GTA) reported 5,759 sales in February 2013 – a decline of 15% in comparison to February 2012. The average selling price for February 2013 was $510,580 – up 2% in comparison to February 2012. Current average price forecast is $515,000 for all home types combined in 2013

Single Family Home Average Price 2010 – 2013

Single Family Home Average Price Graph 2000 - 2008

Number of Sold Single Family Dwellings 2010 – 2013

ber of Sold Single Family Dwellings Graph 2005 - 2008

Single Family Listing Inventory 2010 – 2013

Single Family Listing Inventory Graph 2005 - 2008

Single Family Percentage of Sales to Listing Ratio 2009 – 2013
(Percentage of How Many Listings Sell in a Month)

Single Family Percentage of Sales to Listing Ratio

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250-868-8000 info@wolfhomes.com RE/MAX Kelowna #100 – 1553 Harvey Av. Kelowna, BC, V1Y 6G1
Each Office Independently Owned and Operated.

February 2013 Update – Buyer Survey Facts, Astonishing!

07. February 2013 · Write a comment · Categories: Newsletter

Positive Signs on the Horizon

Great News

A national survey, hosted on the Angus Reid Forum in December for RE/MAX Canada focused on consumer demographics and buyer intentions. The survey provides a snapshot of Canadian homebuyers heading into a period of moderation. Among the key findings:

Over 80% of buyers believe housing values in their area will rise or remain the same.
25% of the purchasers are single.
More than two-thirds are second or multi-time purchasers.
7 out of 10 purchasers have a downpayment of 20 per cent or more.

Kelowna January 2013 News
Kelowna And Area Single Family Dwellings (SFD) Activity
Sales in the Single Family Dwellings (SFD) reached 107 in January which is 5% above 2012 and just below our 21 year average, of 116 sales.
Listings show a slight decrease to a total of 1,196 which is 5% lower than last year’s January.
Percentage of Listings vs. Sales. We are still clearly in a buyer’s market at only 9% of the listing inventory selling, but it improved over Jan 2012 at 8.1% and Jan 2011 with only 7.7% of the inventory selling. 9% of listings selling equals to 11 months of inventory, where a balanced market starts at about 15% of inventory selling in one month or a 6 month inventory supply.
Average Price Holding Steady
The average price here in Kelowna was $465,292 last month which is above last year’s January by 12%, but almost identical to the 2012 year average at $465,914.
Million $ Plus
The MLS system shows 6 residential properties sold in January over $1 Million. These were: 2 Acreages, 1 Townhome, 1 Lakeshore Strata and 2 Single Family Dwellings sold with one selling for $3.1 Million.

Conclusion
2013 looks like it is starting out pretty good, nevertheless with only 9% of the inventory sold, it is nothing to get too excited about. There is still lots of room for improvement, but we are also finding that people are getting more optimistic now and spring is just around the corner.

According to a survey published by RE/MAX in Canada, of the buyers planning on spending $500,000 to $1 million, almost half resided in Ontario, while the remaining 50% were almost evenly divided between British Columbia and Alberta.

Watch Wolf and Colin’s summary of RE/MAX’s buyers survey.

The greatest compliment we can receive are the referrals from our clients, friends and acquaintances.

Major Cities Report
Victoria:	Sales Down But Prices Hold In Greater Victoria Real Estate Market A slow start to the year in Victoria’s real estate market is evidence that buyers are continuing to wait for prices to drop. Although January 2013 sales are 21% lower than January 2012, the six-month average price for a Greater Victoria home is only down 1% for the same period. 3 Single Family Dwellings sold over $1 million

Vancouver:	January Home Sales Remain Quiet The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,351 on the MLS® in January 2013. This represents a 14.3% decrease compared to the 1,577 sales recorded in January 2012, and an 18.3% increase compared to the 1,142 sales in December 2012. Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver has declined 5.9% to $588,100. This represents a 2.8% decline compared to this time last year.

Calgary:	Calgary’s Resale Market Continues To Improve Residential real estate sales in the city of Calgary started the year on a positive note, increasing by 15% over the same month in 2012. Total sales were 1,230 units, a significant increase over the 1,068 units last year. But sales remain well below January levels recorded through the peak years of 2003 – 2008. Average single family prices are showing improvement over January 2012, increasing by 12.7% to $496,579. According to the Calgary Real Estate Board, there were 21,207 MLS sales in Calgary in 2012 at an average sale price of $428,655, eclipsing the previous record of $423,770 in 2007 when there were 26,611 transactions.

Edmonton:	Local Housing Market Continues to Grow Year-over-year average prices and sales were up for most types of residential property in the Edmonton Census Metropolitan Area (CMA) in January. Single Family Dwelling (SFD) average prices were down 1.93% from December but up 7.7% when compared to January 2012. The all-residential price was up year-over-year at $328,525 (up 2.5%). The average price for an SFD was $399,832.

Toronto:	Positive Start to 2013 The January sales figures represent a good start to 2013. While the number of transactions was down slightly compared to last year, the rate of decline was much less than what was experienced in the second half of 2012. The average selling price for January 2013 sales was $612,252 for SFD and all residential was $482,648 – up by 4.3% compared to $462,655 in January 2012.

Single Family Home Average Price 2010 – 2013

Single Family Home Average Price Graph 2000 - 2008

Number of Sold Single Family Dwellings 2010 – 2013

ber of Sold Single Family Dwellings Graph 2005 - 2008

Single Family Listing Inventory 2010 – 2013

Single Family Listing Inventory Graph 2005 - 2008

Single Family Percentage of Sales to Listing Ratio 2009 – 2013
(Percentage of How Many Listings Sell in a Month)

Single Family Percentage of Sales to Listing Ratio

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For more pictures, video walkthrough and information here.

250-868-8000 info@wolfhomes.com RE/MAX Kelowna #100 – 1553 Harvey Av. Kelowna, BC, V1Y 6G1
Each Office Independently Owned and Operated.

January 2013 Real Estate News

09. January 2013 · Write a comment · Categories: Newsletter

Kelowna Report & Forecast 2013

Kelowna Market Update

Looking back to 2012, our market slightly improved over 2011 but all in all was quite stable. 4.3% more Single Family Dwellings changed hands, the average sale price was slightly lower by 1% and we have a similar inventory going into 2013. Apartment sales increased by 8% and townhomes sales increased by 11% in 2012 over 2011. The biggest gain was recorded in lot sales. 215 lots sold in 2012 compared to only 166 in 2011 which is a big 30% gain.

2013 is here and we are looking forward to see the real estate market improve. “Positive growth is forecast both in the Okanagan and BC, particulary in the forestry, mining and tourism sectors, which will help employment. Population growth is also predicted primarily in the Lower Mainland, with the Okanagan Valley seeing a spillover benefit. The strong outlook for Alberta is also expected to buoy demand in Kelowna, as Albertans comprise approximately 20% of the city’s buyers”, says Cliff Shillington, owner and managing broker of RE/MAX Kelowna.
We will see the HST eliminated in April which is good for high end real estate and we hope that the election in May will be positive for the economy.
Bare in mind that we do not have any indication that the market here in Kelowna will turn into a sellers market quickly and it is impossible to tell ahead of time when that will happen. We will only see it as it happens and will certainly know once it has come into effect. Like we always say, “The best deals are always made in a down market”.

Kelowna December 2012 News
Kelowna And Area Single Family Dwellings (SFD) Activity
Sales in the Single Family Dwellings (SFD) reached 80 in December which is 16% below 2011 and 25% below our 21 year average of 106 sales. Having said that, YTD sales finished 4% over 2011.
Listings show a slight increase to a total of 1,173 which is 3% higher than last year’s December.
Percentage of Listings vs. Sales. We are still clearly in a buyer’s market at only 7% of the listing inventory selling. That equals to 15 months of inventory, where a balanced market starts at about 15% of inventory selling in one month or 6 month inventory supply.
Average Price Holding Steady
The average price here in Kelowna was $464,283 last month which is just above last year’s December by 3%. For the year we saw a 1.1% reduction in SFD. Apartments experienced a 4.3% reduction for the year in the average price.
Million $ Plus
The MLS system shows only 5 properties sold in December over $1 Million. These were: 1 farm, 4 lakeshore homes and 1 single family dwelling.
Conclusion
December clearly did set us back again with only 7% of the inventory selling. Maybe we can blame it on the early snow. Either way, we are looking forward to an active spring. We know the buyers are out there, but they are very nervous and looking for bargains.

2013 Property Assessments - Values Remain Stable
More than 82,000 property owners throughout the Central Okanagan region can expect to receive their 2013 assessment notices in the next few days, with most having already received them.
“Most homes in the Central Okanagan region are remaining stable in value compared to last year’s assessment roll,” said Tracy Wall, Deputy Assessor. “Most homeowners in the Central Okanagan can expect modest changes in the -5% to +5% range.”
Overall, the Central Okanagan‟ Assessment Roll decreased from $40,748,380,318 last year to $40,599,516,028 this year. The 2013 assessment roll includes $280,572,573 for subdivisions, rezoning and new construction.
Visit www.bcassessment.ca for more information about the 2013 Assessment Roll including lists of 2013’s top most valuable residential properties across the province.

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Watch Barry’s Review of The Krieg Family

The greatest compliment we can receive are the referrals from our clients, friends and acquaintances.

2012 vs 2011 Year over Year

Major Cities Report
Victoria:	2012 Ends on a Steady Note for Greater Victoria Real Estate Market Victoria’s real estate market ended 2012 with relatively flat pricing when compared to 2011, along with similar sales numbers for the third consecutive year. Total MLS® sales in December 2012 were 283, this represents a 17% decrease over December 2011 when 339 units sold. A different picture is told, however, when comparing full years, where there is only a 5% decline from 2011 to 2012. Similarly, pricing has held steady year-over-year. The annual average price of a single-family home in Greater Victoria was $603,298 in 2012 compared to $613,839 in 2011.

Vancouver:	Housing Market Experienced Below Average Home Sale Totals, Typical Home Listing Activity and Modest Declines in Home Prices in 2012. The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2012 reached 25,032, a 22.7% decline from the 32,387 sales recorded in 2011, and an 18.2% decrease from the 30,595 residential sales in 2010. Last year’s home sale total was 25.7% below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region. Residential property sales totalled 1,142 in December 2012, a decrease of 31.1% from the 1,658 sales recorded in December 2011 and a 32.3% decline compared to November 2012 when 1,686 home sales occurred. December sales were 38.4% below the 10-year December sales average of 1,855. The benchmark price for detached properties decreased 2.7% from December 2011 to $904,200. Since reaching a peak in May, the benchmark price of a detached property has declined 6.5%.

Calgary:	Calgary Resale Market Reaching Normal Residential real estate sales in the city of Calgary ended the year on a high note, with sales volume up 15% in 2012 compared to 2011, and benchmark prices up 5%. The unadjusted single family benchmark price was $434,800 for the month of December, 8.7% higher than 2011. On average, single family prices are up by 7% for the year, and remain 2% below peak pricing in 2007.

Edmonton:	Solid Growth of Local Real Estate Market in 2012 The local housing market in 2012 ended as it began, with robust sales, slowly increasing prices, stability and an optimistic swagger. The average all-residential price in December was $333,140, up 1.5% from the previous month. The price in December 2011 was $316,020. Sales during December were 31.0% down from November and 16.8% down from last December. The average price for a single family detached property on the Edmonton Multiple Listing Service® in December was $391,427, up 2.5% month/month and 6.8% year/year.

Toronto:	Average Home Price Up Strongly in 2012 Toronto reported 3,690 sales through the TorontoMLS system in December 2012 – down from 4,585 sales in December 2011. The number of transactions in 2012 was quite strong from a historic perspective. Also total sales for 2012 amounted to 85,731 – down from 89,096 transactions in 2011. The average selling price in December 2012 was up by 6.5% year-over-year to $478,739. The average selling price for 2012 as a whole was up by almost 7% to $497,298.

Single Family Home Average Price 2009 – 2012

Single Family Home Average Price Graph 2000 - 2008

Number of Sold Single Family Dwellings 2009 – 2012

ber of Sold Single Family Dwellings Graph 2005 - 2008

Single Family Listing Inventory 2009 – 2012

Single Family Listing Inventory Graph 2005 - 2008

Single Family Percentage of Sales to Listing Ratio 2006 – 2012
(Percentage of How Many Listings Sell in a Month)

Single Family Percentage of Sales to Listing Ratio

Featured Property

Amberhill in Prestigious Kettle Valley

3 Bedrooms + Den | 2.5 Baths | 1,915 sqft | Built 2010

338 Hillside Avenue
Now Only $374,800

Amberhill in Prestigious and Desirable Kettle Valley in Upper Mission – Enjoy this freshly painted bright and open spacious townhome featuring 3 bedrooms plus an ideally located laundry room on the upper level. It is quality built and offers large baseboard and trim with special feature of dining room/kitchen arch also with extra large trim. The 18×15 huge white kitchen offers gleaming dark floors, stainless steel appliances, island and deck for delicious BBQ dinners. The romantic master suite boasts view, 5 piece en-suite with 2 sinks plus walk-in closet. Lower level includes family/games room and entry to the double garage both with built-in cabinetry. It features a white picket fence, irrigated yard, and in addition to the double garage there is also on street parking plus it is located close to park and school.

For more pictures, video walkthrough and information here.

250-868-8000 info@wolfhomes.com RE/MAX Kelowna #100 – 1553 Harvey Av. Kelowna, BC, V1Y 6G1
Each Office Independently Owned and Operated.

Barry’s Review of Selling His Home

05. January 2013 · Write a comment · Categories: Video Reviews

Barry talks about what made him choose The Krieg Family at RE/MAX Kelowna and how The Krieg Family was honest and use of video for the sale of his home. He was very pleased that there was always an answer when he called and impressed with the amount of foot traffic that came through his home.

Incredible Market Fluctuations – December ’12 Kelowna Real Estate Market Update [VIDEO]

11. December 2012 · Write a comment · Categories: Video Market Updates

Wolf and Colin Krieg discuss the recent dynamic events of Kelowna’s real estate market in the Okanagan comparing August to September, October and November 2012.

Dec ’12 – Incredible Market Fluctuations in Kelowna Real Estate

11. December 2012 · Write a comment · Categories: Newsletter

Best November Since 2007

Kelowna Market Update

November was a very strong month in sales for Kelowna and area. 140 single family homes sold! This was the best November since 2007 which came in at 157 sales. Compare this to September and October 2012 which was only half the sales of 2007 in their respective months. See the graph below for more information.

The change in rules we had come into effect recently, changed the maximum amortization from 30 to 25 years, easily resulting in an additional $200/month mortgage payment. This is impacting many first-time home buyers, therefore limiting the number entering the market. We find clients are being more cautious and analyzing all of their options.

Sales in the Single Family Dwellings (SFD) reached 140 in November which is 3% above 2011 and just below our 20 year average, which is 148 sales. Having said that YTD total sales is still about 6% over 2011.
Listings show a slight increase to a total of 1,381 which is 1% higher than last year’s November.
Percentage of Listings vs Sales We are still clearly in a buyer’s market at only 10% of the listing inventory selling.
Average Price Holding Steady
The average price here in Kelowna was $470,578 last month which is just above last year’s November, by only 1%. YTD we see a 1.3% reduction.
Million $ Plus
The MLS system shows only 8 properties sold in November over $1 Million. These were: 1 Condo, 2 Farms, 1 Lakeshore home and 4 Single Family Dwellings.
Conclusion
Right now we are still in a buyer’s market. We saw a good improvement in November but, we have to still be very aggressive to get good activity on listings and to obtain offers.

The world population is now over 7 billion. China has about 20% of the world population and combined with India they have 37%, compared to the US 4.5% and we in Canada only 0.5%. Out of 242 countries, Canada is ranked #35 for population but number #10 in GDP.

Watch Wolf and Colin’s YouTube Video, Incredible Market Fluctuations

The greatest compliment we can receive are the referrals from our clients, friends and acquaintances.

Major Cities Report
Victoria:	Sales Slow but Steady in Buyers’ Market Total MLS® sales for November 2012 were 366 compared to 373 the previous month. 202 single-family homes sold throughout the Victoria Real Estate Board’s region, compared to 293 in November 2011. The median price for single family homes was $540,000, up 1% from last November’s median of $536,500. The average price for the same period is up $48,373 (8%), but this is influenced by two sales over $2 million and one sale over $5 million. Month-over-month, the six-month average for single-family homes is flat. 17 Single Family Dwellings sold over $1 million, 2 over $2 million, 1 over $5 million.

Vancouver:	Residential Property Sales and Listing Activity Below 10-year Averages in November November sales were 30% below the 10-year November sales average of 2,420. New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,758 in November. This represents a 14.4% decline compared to November 2011 and a 36.2% decline compared to the new listings in October 2012. Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver has declined 4.5% to $596,900. This represents a 1.7% decline when we compare to this time last year. Sales of detached properties in Greater Vancouver reached 629 in November, a decrease of 31% from the 916 sales recorded in November 2011, and a 40% decrease from the 1,050 units sold in November 2010. Of the 1,686 homes that sold in Greater Vancouver in November, 273 (16%) sold for $1 million or more.

Calgary:	Inventories Continue to Fall, But Sales Growth Eases to Keep Market Stable Residential sales in the City of Calgary have increased by 15% on a year-to-date basis, and were up 8% in November compared to the same month in 2011. Inventories declined to 2,586 units and sales activity also declined over the previous month, keeping the market in balance. Meanwhile the unadjusted benchmark price for single family homes was $433,600 in November 2012, unchanged compared to the previous month, and 8.5% higher than levels recorded in November 2011. Price growth has been stronger than expected, mostly due the single family market.

Edmonton:	Average House Prices Make Dramatic Leap in November A significant lift in single-family detached prices from $372,061 in October to $382,923 in November drove up the all-residential average price from $324,924 to $331,198 (up 3.32% Y/Y). There were 51 sales reported for properties priced over $600,000 in November: the same number as reported in October. A year ago there were just 43 homes sold over $600,000.

Toronto:	Sales Dip in November While Selling Prices Increase Greater Toronto Area reported 5,793 sales in November 2012 – down 16% compared to November 2011. The average selling price was up by 1.6% annually to $485,328. The MLS® Home Price Index (MLS® HPI) Composite Benchmark was up by 4.6% compared to last year.

Single Family Home Average Price 2009 – 2012

Single Family Home Average Price Graph 2000 - 2008

Number of Sold Single Family Dwellings 2009 – 2012

ber of Sold Single Family Dwellings Graph 2005 - 2008

Single Family Listing Inventory 2009 – 2012

Single Family Listing Inventory Graph 2005 - 2008

Single Family Percentage of Sales to Listing Ratio 2006 – 2012
(Percentage of How Many Listings Sell in a Month)

Single Family Percentage of Sales to Listing Ratio

Featured Property

New Price! Sparkling Clean Family Home with Large Fenced Yard

3 Bedrooms + Den | 4 Baths | 3,307 sqft | Built 2007

772 Crozier Avenue
Now Only $549,900

Experience this harmonious immaculate open plan home featuring 3 bedrooms + den, where pride of ownership is evident throughout. It boasts gleaming hardwood floors, walls of windows, 2 fireplaces, gourmet maple kitchen, S.S. appliances plus lake and mountain views from the huge 16×10 deck off romantic massive master. Extras include rec & games rooms on lower level, French garden + leaded bevelled French doors, security system, A/C, heat pump, B/I vac, gas BBQ hookup, hot tub, shed, fenced with timed U/G irrigation and extra large double garage

For more pictures, video walkthrough and information here.

250-868-8000 info@wolfhomes.com RE/MAX Kelowna #100 – 1553 Harvey Av. Kelowna, BC, V1Y 6G1
Each Office Independently Owned and Operated.

8 Tips for Selling your Home over Christmas in Kelowna

11. December 2012 · Write a comment · Categories: News Articles

1. CREATE INVITING CURB APPEAL
Decorate the outside of the house with some Christmas decorations including lights, especially since it gets dark so early this time of year, adding a timer is a good idea. Although, daytime showings are preferred, turning on all of the lights inside will make the house “glow” during the darker hours as they approach.

2. KEEP DRIVEWAY AND SIDEWALKS CLEAR
This is a must. Make sure that the sidewalk and pathway to the house are scraped and salted. Nothing will turn your home into a terrible experience faster than the buyer falling on the ice before they even enter your home. Not only is it a negative connotation about the safety of your home, but you could also face a potential law suit.

3. CREATE A NICE AROMA WITH SMELL
This may be one of the first things that people will notice when they walk in the door as they are taking their shoes off. Baking some homemade cookies (Bake, don’t burn!) creates a beautiful homey smell and feeling. Alternatively, a pot of apple cider that has been heated on the stove will give a delightful Christmasy smell. Maybe even go the extra mile and leave some of those cookies you made out for your buyers with a little note for them to help themselves. They might not remember the moldings, but they will remember the wonderful experience they had.

4. GIVE BUYERS A PLACE TO ESCAPE FROM THE COLD
Make your home feel cozy and inviting during showings by turning up to the heat and playing music very softly in the background. When you encourage buyers to spend more time in your home, you also give them more time to admire it’s best features.

5. DECK THE HALLS, BUT DON’T GO OVERBOARD
Several strands of Christmas lights and a wreath on the door can be enough. Keep banners and large yard displays packed up this year. Get a smaller tree than you normally would if your living room is small as it will make the space look larger. A few warpped (fake or real) presents under the tree can be a nice touch.

6. TAKE TOP-NOTCH REAL ESTATE PHOTOS
Homebuyers will likely start their search from the comfort of their current home, especially if it is cold and snowy outside. Make a great first impression by offering high quality inviting photos of your home.

7. CREATE A VIDEO WALKTHROUGH FOR THE WEB
As technology advances, so should the marketing of your home. Have your realtor shoot a high definition video walkthrough of your home. You will likely get less foot traffic during this time of year, but having a video walkthrough will attract house hunters who don’t have time to physically see your home or would rather not drive in winter weather.

8. RELAX – THE NEW YEAR IS JUST AROUND THE CORNER
Christmas can be quite stressful, with gifts to buy, dinners to prepare, and relatives to entertain. Take a moment to remind yourself that if you don’t sell now, there’s always next year, which luckily is only a few days away

As seen on WelcomeToKelowna.com

Nov 2012: Kelowna Report and 2013 Forecast

08. November 2012 · Write a comment · Categories: Newsletter

Kelowna Report and Forecast 2013

Kelowna Market Update

We, The Krieg Family think whatever is, is! We give you the unbiased information. As we said before, the numbers are the numbers and the fact is, we are sorry to say, that Kelowna experienced a tremendous slowdown in the last two months as you can see on the graphs and numbers below.

October 2012 Stats
Kelowna And Area Single Family Dwellings (SFD) Activity
Sales in the Single Family Dwellings (SFD) reached only to 123 in October which is 7% below 2011 and way below our 20 year average, which is 170 sales. Having said that, YTD total sales is still about 7% over 2011.

Listings show a slight increase to a total of 1,514 which is 2% higher than last year’s October but, above the middle 2000s that were around the 900 mark.

Percentage of Listings vs Sales
We are still clearly in a buyer’s market at only 8.1% of the listing inventory selling.

Average Price Holding Steady
The average price here in Kelowna for SFD was $452,886 last month which is below last year’s October, by only 3%. YTD we see a 1.5% reduction.

Million $ Plus
The MLS system shows 10 properties sold over $1Million. 1 Condo; 3 Acreages; 4 Lakeshore homes and 2 Single Family Dwellings.

Conclusion
Right now, we are definitely in a buyer’s market. Sellers have to be very aggressive in order to get good activity and to obtain offers on a property.

In the meantime, our neighbour, the USA is reporting a housing turnaround and CMHC is predicting a better 2013. In addition Canada is having a record year in car sales.

Statistics can be manipulated in so many ways that journalists, economists, or whoever feels like it, can pretty much paint the market to look however it best suits them. You can find headlines that read predictions of total collapse in the market to it has never been better, and all this on the same day. To top it all off, many times Kelowna is not even included in the statistics as it is mostly about Toronto and Vancouver.

Some Headlines

CMHC Kelowna Fall Housing Market Outlook
Expects sales to increase 8% in 2013
Expects housing starts to increase in 2013
http://www.cmhc-schl.gc.ca/odpub/esub/64359/64359_2012_B02.pdf

Housing Is Finally Giving the Economy Some Love
http://blogs.wsj.com/developments/2012/10/26/housing-is-finally-giving-the-economy-some-love/

Inventory of New Homes Down to Lowest Level in Nearly 50 Years
http://www.dsnews.com/articles/inventory-of-new-homes-down-to-lowest-level-in-50-years-2012-10-31

Foreclosures fall in 62% of U.S. cities
http://money.cnn.com/2012/10/25/real_estate/foreclosures-cities/index.html

Warren Buffett Just Made A Huge Bet On The US Housing Market
Warren Buffett: Good time to buy a Home US
http://www.businessinsider.com/warren-buffett-brookfield-asset-managment-housing-2012-10

The federal government has intervened in the housing market four times in four years. Back in the spring, Ottawa was still wishing that the housing wasn’t so hot. They wished that mortgage growth wasn’t so robust. Well, now we have it. “Always be careful what you wish for”.

Did you know Six Canadian cities are among the top 10 in North America for the number of high-rises and skyscrapers being built. #1 Toronto has 147 high rise buildings under construction, more than #2 New York at 86, #3 Vancouver including Richmond 29, Montreal 20, Calgary 13…

Watch Wolf and Colin’s YouTube Video, 2013 Market Outlook

The greatest compliment we can receive are the referrals from our clients, friends and acquaintances.

Major Cities Report
Victoria:	Federal Measures Make Impact on Victoria Real Estate Market While prices held steady through most of the Greater Victoria region’s real estate market in October, government lending regulations have had the desired “cooling effect” on year-over-year sales numbers. During the month, 211 single family homes sold throughout the Victoria Real Estate Board’s region, compared to 260 in October 2011. The average price for single family homes was $576,720, down 2% from last October’s average of $590,539. 11 Single Family Dwellings sold over $1 million, 1 over $2 million, 1 over $3 million

Vancouver:	Housing Market Sees Slight Changes in October The Greater Vancouver housing market saw a slight increase in the number of home sales, a slight reduction in the number of listings, and a slight decrease in home prices in October compared to the summer months. October sales were 28.5% below the 10-year October sales average of 2,700. Sales of detached properties in Greater Vancouver reached 790 in October, a decrease of 18.9% from the 974 detached sales recorded in October 2011, and a 19.1% decrease from the 976 units sold in October 2010. Since reaching a peak in May, the benchmark price for a detached property in Greater Vancouver has declined 4.1% to $927,500.

Calgary:	Calgary Housing Market Does Not Show Signs Of SlowingCity of Calgary sales activity marked a 23% increase over levels recorded in October 2011. Single family sales growth has been the strongest, with nearly 17% more year-to-date sales this year compared to last year. As of October 2012, the benchmark price for a single family home was $433,300, an 8% increase over the previous year.

Edmonton:	Nothing Scary in Halloween Housing MarketEdmonton reports that housing prices in October were up compared to a year ago and are the highest October in the past five years. The average price of a single family detached home was $372,061 up 2.1% over a year ago. There were a total of 2,228 residential listings in October, with sales of 1,375 properties.

Toronto:	Average Price Up in October, Despite Fewer SalesGreater Toronto Area REALTORS® reported 6,896 transactions through the TorontoMLS system in October 2012 – a decrease of 7.1% compared to October 2011. The average selling price for October transactions was $503,479 – up 6.2% compared to October 2011.

Single Family Home Average Price 2009 – 2012

Single Family Home Average Price Graph 2000 - 2008

Number of Sold Single Family Dwellings 2009 – 2012

ber of Sold Single Family Dwellings Graph 2005 - 2008

Single Family Listing Inventory 2009 – 2012

Single Family Listing Inventory Graph 2005 - 2008

Single Family Percentage of Sales to Listing Ratio2006 – 2012(Percentage of How Many Listings Sell in a Month)

Single Family Percentage of Sales to Listing Ratio

Featured Property

Across from Mission Park Mall and Close to OC

2 Bedrooms| 2 Baths | 986 sqft | Built 1991
119 – 3163 Richter Street

Now Asking Only $149,900

Where Can You Find… 2 bedrooms, 2 bathrooms with in unit laundry, enclosed balcony on the main floor. Enjoy the hot tub, sauna, exercise room and outdoor pool. Great location across the Mission Park Mall and Okanagan College, in the heart of South Pandosy area of exclusive boutiques, cafes, pubs, restaurants and public transportation plus parks and lake.More pictures and information here.

250-868-8000 info@wolfhomes.com RE/MAX Kelowna #100 – 1553 Harvey Av. Kelowna, BC V1Y 6G1
Each Office Independently Owned and Operated.

November 2012 Video Update: 2 bedroom condo in Kelowna for $150,000?!

08. November 2012 · Write a comment · Categories: Video Market Updates

Wolf and Colin Krieg discuss one of the best buys in Kelowna, the latest CMHC fall report as well as discussing the Edmonton and Calgary, Alberta real estate market.

October 2012 News: An Ogopogo Market

10. October 2012 · Write a comment · Categories: Newsletter

Wow! Look at the Market!

Kelowna Market Update

September 2012
Unbelievable sunshine in September, and what a roller coaster in real estate, up, down and sideways, just like Ogopogo. For the first time this year, the monthly unit sales are below the same month last year for single family homes, townhomes and apartments.

Talk about peaks and valleys! August sales were up 27% and September sales were down 25% compared to the same months in 2011. That is a tremendous swing in the course of 60 days! With only 116 homes sold in September, that makes this the slowest September in 20 years. Now compare this to the previous month which was the busiest August (183 sales) since 2007 in SFD sales.

The numbers are the numbers and we are still up 7% year to date compared to 2011. Interesting facts: 19 properties sold over $1 million in August and only 6 sold in September. But, already 7 sold so far in October (as of the 10th).

Kelowna and Area Single Family Dwellings (SFD) Activity Sales in the Single Family Dwellings (SFD) reached only to 116 in September which is 25% below 2011 and is way below our 20 year average which is 181 sales.

Listings show a slight increase to a total of 1,616 which is 2% higher than last year’s September but much higher than the middle 2000s which were around the 900 mark.

Percentage of Listings vs Sales
We are still clearly in a buyer’s market at only 7.2% of the listing inventory selling.

Average Price Holding Steady
The average price here in Kelowna was $488,788 last month which is certainly below last year’s September, but all in all very steady and just about identical to August at $488,109.

Watch Wolf and Colin’s YouTube Video, Renting vs Buying

Remember, Good Deals Are Not Found, They Are Made.

The greatest compliment we can receive are the referrals from our clients, friends and acquaintances.

Major Cities Report
Victoria:	Victoria Real Estate Market at a Standoff as Prices Remain Steady REALTORS® across Vancouver Island are experiencing a “wait and see” attitude amongst buyers and sellers alike. The result? Prices remain steady but sales numbers are down in some categories. Total MLS® residential sales for September 2012 were 400 compared to 435 in September 2011. During the month, 216 single family homes sold throughout the Victoria Real Estate Board’s region, just 28 fewer than the 244 sold in September 2011. The average price for single family homes sold in Greater Victoria last month was $589,361, down from September 2011′s average of $622,393. The median price is down by $16,500 to $517,500 over September 2011. There are 5,025 active listings.14 Single Family Dwellings sold over $1 million

Vancouver:	Conditions Continue to Favour Buyers in the Greater Vancouver Housing Market The summer of 2012 drew to a close in September with home sale activity well below historical averages in the Greater Vancouver housing market. Residential property sales of detached, attached and apartment properties reached 1,516 in September, a 32.5% decline compared to the 2,246 sales in September 2011 and an 8.1% decline compared to the 1,649 sales in August 2012 . September sales were 41.6% below the 10-year September sales average of 2,597. The MLS HPI® composite benchmark price for all residential properties in Greater Vancouver is $606,100. This represents a decline of 0.8% compared to this time last year and a decline of 2.3% over last three months.

Calgary:	Calgary Area Sales and Price growth Continue, Despite National Trends Residential sales activity continues to improve in the Calgary area, as year-over-year sales for the month of September increased by 11%. Single family sales activity is rising, even though new listings are steadily declining. The total number of active listings has slightly improved over August. As of September, the benchmark single family home price totaled $432,900.

Edmonton:	Residential Housing Market Cools in Third Quarter In September, there were 1,269 residential sales in the greater Edmonton market as compared to 1,442 in September 2011. Despite the recent cooling trend, residential sales year-to-date are still up 7.2% as compared to last year at this time. The average price for a single family dwelling (SFD) has remained higher than last year for each of the past nine months. In September, the SFD average price of $376,678 was up just 0.23% from the previous year and is up 2.78% from the January price.

Toronto:	Strong Average Price Growth in September September average selling prices were up compared to last year for all major home types. Price growth was strongest in the City of Toronto, including for condominium apartments with 8% year-over-year growth. All benchmark home types included in the MLS® Home Price Index (MLS® HPI) experienced year-over-year price increases, with substantially stronger increases for low-rise home types. The average selling price for these transactions was $503,662, representing an increase of more than 8.5 %.

Single Family Home Average Price 2009 – 2012

Single Family Home Average Price Graph 2000 - 2008

Number of Sold Single Family Dwellings 2009 – 2012

ber of Sold Single Family Dwellings Graph 2005 - 2008

Single Family Listing Inventory 2009 – 2012

Single Family Listing Inventory Graph 2005 - 2008

Single Family Percentage of Sales to Listing Ratio 2006 – 2012
(Percentage of How Many Listings Sell in a Month)

Single Family Percentage of Sales to Listing Ratio

Featured Property

Breathtaking Lake Views, Remodelled, Suite Possible

3 Bedrooms + Den | 2.5 Baths | 2,120 sqft | Built 1988

11350 Darlene Road
Asking $399,900

Lake Country Sit back, relax, and take in the breathtaking lake, valley and mountain views from this exquisitely renovated home with in-law suite possibility nestled on .33acres lot. This home boasts an all new maple espresso kitchen including glass/stone back-splash and 4 stainless steel appliances, counter tops, hardwood floors, sliding glass door to massive relaxing view deck and direct entry to/from the deep 26×14 garage. There is new tile, carpets and laminate, new bathrooms, light fixtures, trim, hot water tank, SVAT security system and also new roof. The bright walkout basement offers new big wet bar and wine cellar with constant 15°C, full bathroom, bedroom, den, and massive games/rec. room.

More pictures and information here.