Kelowna Real Estate Market Stats - June 2016

(July 18, 2016 )

The Okanagan Mainline Real Estate Board (OMREB) reports residential sales in the Okanagan continue to be brisk, with sales of 1263 units posted to the Multiple Listing Service (MLS®) in June, up 38% from June of last year.

Key Single Family Residential Market Stats for the Central Okanagan:
- 460 new listings 
- 403 sold listings 
- 49 average days to sell
- $617,517 average single family residential price (up again from last month)

Where are all these buyers coming from? A recent OMREB monthly survey of buyers shows that a significant majority of buyers are Okanagan residents at 58%, followed by 17% from the Lower Mainland or Vancouver Island, and 12% from Alberta.   

Grant Waidman, local Kelowna REALTOR, notes that clients will still likely see rising prices, short turn-arounds between when a property is listed and when it is sold, and situations where there are multiple offers on a listing. Now more than ever it is imperative to have a professional on your side.  If you are thinking of buying or selling in the Okanagan be sure to contact the Grant Waidman Group to learn how they can help.Kelowna Real Estate Stats - June 2016
*All statistics are based on Central Okanagan Residential listings as published by OMREB.