SUMMERLAND REAL ESTATE MARKET INFORMATION
Year to date last year MLS sales there were 139 sales, as compared with this year to date total MLS sales total of 155 as of today’s date. There were comparatively only 108 same period 2010, so we are going the right direction.
Of these cumulative year to date sales, 19 have sold in the last 30 days, and 21 in the previous 30 day window. So that remains tepid, but consistent, which is…well its not a negative.
There have been no mobile homes MLS sold in Summerland the last 60 days.
In the last 30 days, one apartment style condo sold for $250,000 in the recently built Victoria Place building and one apartment style condo sold for $155,000 in Linden Estates, an age restricted building. This unit was very thoroughly renovated and updated and sold after 3 price reductions over 420 days active on the market.
A house in Trout Creek, across the hiway from the lake, was listed for $349,900 and sold full price in one week. The half acre lot was obviously sought after, and the decision to list at market certainly played a big part in generating a prompt sale.
One lot sold in Summerland the last 60 days, a prime, flat lakeview 1/3acre listed for $349,000 sold for $290,000 after over 1,200 days on market. But it sold!
I think that is the longest official time on market I can remember ever hearing about…in over 20 years working in 3 different provinces during that time.
In the last 60 days, there have been 7 properties sold for more than $500,000 in Summerland. Of these, 3 were non waterfront and non acreage properties.
Check back next week for market information update regarding supply.
Patrick Murphy250 486 2529
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