Okanagan Real Estate Market Stats, 26 seconds of incredibly insightful reading

Okanagan Market Update
There are 11 MLS listings for “farm” in Naramata.  Not one sold this year.
There are 13 MLS listings for “farm” in Penticton.  Not one sold this year.
There are 11 MLS listings for “farm” in Summerland.  There have been SIX sold this year.  (more than one per month)

In Summerland there are 66 active listings for lots, and there have been 4 sold.  In Penticton there are 63 active listings for lots, and there have been 6 sold.  Naramata has 25 active lots and there have been none sold.

In Summerland there have been 2 commercial properties sold while in Penticton there are 4 reported MLS sales and Naramata saw one Motel get purchased so far this year.  Combined there are 99 active listings in this area.

So, now for a look at residential condos (apartment units)…
Penticton & Summeland combined show 91 units sold ytd.  All but 14 of these were in Penticton!  However, looking at the Summerland sales, almost HALF of the sales ytd have occured the first 3 weeks of May!  In Summerland, there are currently 49 active condo listings.

For all categories of housing in Summerland, there have been 104 sales year to date, with same period comparisons:
2012 = 104
2011 = 82
2010 = 72
2009 = 61
2008 = 81
2007 = 123
2006 = 117
So, to see better results than this year’s 104 solds ytd we need to go back to 2007…this is the best market in Summerland in 5 years!
I couldn’t resist looking up the stats for good old 2005:  153 sales same period!  50% better than our current output!

Patrick Murphy 250 486 2529 call or text anytime

@pmurphy88 on twitter

Remember to click back often for excellent real estate bargains such as this 22acre building lot just reduced to $499,900 with south facing slope for vineyard and its NOT IN THE AGRICULTURAL LAND RESERVE but it is ZONED FOR COUNTY RESIDENTIAL BUILDING LOTS which includes Agricultural uses…250 486 2529

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