Trout Creek Market Update July 20 2011

One question I get asked by visitors these days is: “Why does Trout Creek have so many for sale signs?”
Well, first off, let’s see just how many are listed for sale in the South Okanagan’s hottest recreation real estate market…
There are 12 active for sale in three different development projects.  Note that for years, there had been NO developments created in this area, so these developments alone are responsible for approximately 30% of the current supply.  Next, if you consider about 10% of the “supply” that has been on the market repetitively over the last 2 to 3 years, indicating “the market does not want to buy that, at those prices, thanks anyway” and remove those from the appearance of supply…(the longest running is over 880 days!) then we are left with what I will call “real supply” of what would appear to be willing sellers.  These are property that is priced at least within the realm of possibility of selling.  Then, a serious shopper for Trout Creek has to choose from a grand total of 13 listings.
As for solds year to date, there have been 12 sales this year, including two over a million dollars and two this week for $600,000 plus.
As is often the case, as soon as Real Estate is given a discerning look, more than a “drive by glance” at the statistics, the true story of the Trout Creek market is one of a very strong demand, very tight supply marketplace.  And, going back to the for sale signs, I can attest that there are some real bargains to be had in this area right now.  By next spring, these (real) opportunities will have been snapped up and shoppers will be looking at the “leftovers” that today’s smart shoppers continue to say “thanks but no thanks”.
For an indepth update on Trout Creek, and a look at some of the true Trout Creek bargains, give me a call and I’ll be happy to help.
Patrick Murphy 250 486 2529
RE/MAX Orchard Country
10124 Main St
Summerland
patrickmurphy@remax.net

For info on the fabulous Trout Creek Show Home we are currently featuring:

http://www.youroklife.com/1921-randall-feature-sheet/

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