Dear All,
As well as some gorgeoussunny days, where the temperature reached 30 degrees again last month, thisSeptember has been one of the busiest I have had working with Buyers for sometime.
The surprising thing I have found in viewing so many properties is thenumber that are not ‘prepared’ for showing or the number which were difficultto show.
Having chosen a home to make an offer on we have found a variety of complications with such HST, Clearing Title and agreeing current market value.
In this market, it is so important that Sellers have their homes in the best shape possible ready for showings, and that homework has been done in advance to make sure the sale can progress smoothly, as there is too much inventory for Buyers to choose from, it remains a Buyers market.
CentralOkanagan Real Estate Sales for September 2011
*Figures are as at close of business 30thSeptember 2011, and may be subject to slight change.
Trish Cenci
Tel 250 864 1707
As well as some gorgeoussunny days, where the temperature reached 30 degrees again last month, thisSeptember has been one of the busiest I have had working with Buyers for sometime.
The surprising thing I have found in viewing so many properties is thenumber that are not ‘prepared’ for showing or the number which were difficultto show.
Having chosen a home to make an offer on we have found a variety of complications with such HST, Clearing Title and agreeing current market value.
In this market, it is so important that Sellers have their homes in the best shape possible ready for showings, and that homework has been done in advance to make sure the sale can progress smoothly, as there is too much inventory for Buyers to choose from, it remains a Buyers market.
CentralOkanagan Real Estate Sales for September 2011
| Date | Total | S/F | Strata | Lot | Manuf |
| Sept-11 | 289 | 158 | 105 | 11 | 15 |
| Aug -11 | 276 | 145 | 103 | 17 | 11 |
| Jul -11 | 329 | 149 | 130 | 27 | 23 |
| Jun -11 | 331 | 200 | 90 | 20 | 21 |
| Sept 10 | 219 | 132 | 72 | 5 | 10 |
As you can see, the totalnumber of sales are very similar to last month, and well up on last year. Withthe general activity we have seen during the last month, I think we should seesales numbers holding again next month.
Summary
I still believe local buyers remain the driving force in the market, and particularly first time buyers. 84% of sales this month were under $550,000, but interestingly 11 sales were over $1 Million.
We are definitely seeing evidence of Vancouver Buyers 'cashing in' on the values of their homes and moving to the Okanagan, as it offers such great value.
With the latest Economic Data on the Canadian Economy this week, it does not look like interest rates will be not be rising in the near future, so I am not seeing a threat to the market there. Consumer confidence is, however, fragile as everyone waits to see how the US and Europe deal with their current economic crisis, and what the 'knock on' effect will be in Canada.
It remains a Buyers Market, here in the Central Okanagan, however I do not see any 'bubble' ready to burst here.
Kind Regards
Trish Cenci
Tel 250 864 1707
