Real Estate Okanagan Statistical Update

Market Update & Statistical Information

If you require specific information or market evaluation prior to making your Real Estate decision, call or text right now 250 486 2529 Patrick Murphy, over 2o years experience.

Currently there are 241 active MLS listings in Summerland. Year to date there are 210 reported sales, and 8 of those had been on the market over one full year, and 2 of those were on the market over 700 days! However, there were also 19 reported sold in under 2 weeks on market!

This year there has only been 2 sold prices over $1million, where as at this point last year, there had been
7 sold for over $1million by now.

There are 52 bare land lots listed for sale, priced from $99,500 to just under $3million for a multi acre site. The average list price for these lots is $408,000 and on the market 184 days on average.

There have been 9 bare land lots sold in Summerland year to date, with the highest sale price being $242,500 for a single family building lot in Trout Creek. Last year at this time, there had been 8 sold, but half of those had sold for more than the highest price this year!

There are 65 active condos for sale in Summerland, priced from $79,900 for an age restricted “bachelor” unit in a refurbished Main St building (former medical dental across from the High School) to just under $600,000 for a unit in the Summerland Waterfront Resort.

The average active listing price for condos is $234,800 and has been on market unsold for 203 days.

There have been 53 units sold year to date, the 5 highest priced sales have been in Tuscan Terrace, priced from $461,000 to $760,000.

The vast majority of the buyer demand in Summerland was for prices under $240,000, with almost 80% of sales under $240,000. And if Tuscan Terrace is out of the discussion, it is almost 90% of condo sales in Summerland that occurred under $240,000.

Summerland Festival of Lights is coming up fast, stop in to Re/Max Orchard Country to meet Scott Austin, who will be in office, signing his new book release. Scott has been the host of Garden Talk Radio show for 25 years, and columnist in Okanagan Newspapers for many years. A great Christmas gift opportunity, we look forward to many visitors Friday Nov 29 from 6 to 8pm!

For further information or market comment, call or text anytime
250 486 2529
Patrick Murphy
RE/MAX Orchard Country in Summerland

Check back often for South Okanagan Real Estate Insights


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