I am sure a number of your, particularly Sellers, will be anxiously waiting to see whether sales numbers have increased this month, after the fall last month.
Well I am pleased to say that they have, but they are still down on the last two years.
Well I am pleased to say that they have, but they are still down on the last two years.
Central Okanagan Statistics for May 2011
Date Total S/F Strata Lot Manuf
May 11 328 184 119 13 12
Apr 11 285 161 89 12 23
Mar 11 324 185 105 18 16
Feb 11 249 142 86 7 14
May 10 372 202 130 18 22
May 09 367 215 132 11 9
*Figures are as at close of business May 31, 2011 and may be subject to minor change.
My advice, to Sellers, is not to be too downhearted though! Everything from the garden, to the arrival of the Humming Birds has been weather delayed, this year, by 4 to 6 weeks!
My advice, to Sellers, is not to be too downhearted though! Everything from the garden, to the arrival of the Humming Birds has been weather delayed, this year, by 4 to 6 weeks!
Real Estate sales are no exception. Whilst we have started to see 'out of town' buyers looking, and I am starting to see an increase in showings on some of my 'lifestyle' type properties, the numbers are still down on previous years.
For Buyers, when you a ready to start looking, there are some really great deals around, and it remains a Buyers market, and will be for some time to come.
The additional good news is that the ongoing forecasts for interest rate increases are now revised until September, and there are still some really good mortgage rates to be found in the marketplace.
In the recent past the demand for properties in the Central Okanagan has been affected by speculators who were looking to 'buy and flip' properties as there were good profits to be made. Now the market is being driven by local buyers, clients looking for vacation homes and investors who are prepared to 'hold' on to their investments for the long term, which is a far more sustainable Real Estate Market to be in.
By the end of this month, I hope to report stronger sales in the real estate market and lots of summer Okanagan sunshine!
Kind Regards
Trish Cenci
Tel 250 864 1707
