Kelowna Real Estate Market Stats - August 2015

The Okanagan Mainline Real Estate Board (OMREB) reported sales activity of all MLS® property types in August 2015 remained steady through a typically slow summer month and despite smoky conditions -- posting the strongest month for August since 2007.

A few notable single family residential stats for the Central Okanagan from August 2015:  
- 343 new listings 
- 267 sold listings 
- 64 average days to sell  
- $531,199 average single family residential price (up over $20,000 from last month)

“Most sectors in our Board area saw a very active summer and we are optimistic this upward trend will continue into the fall with solid sales activity in September and October,” Christopher Miller, OMREB President, notes. “Now is the time to list as inventory continues to decline. Single family homes within our Board area are selling within 88 days compared to 104 days on market year-to-date during the same eight-month period in 2014.” 

Kelowna real estate expert Grant Waidman confirms “We are currently experiencing shortages and moving into sellers’ market conditions.” 

Whether you are selling or buying a home, having a professional REALTOR® who is familiar with the area and your particular neighbourhood is key – unlock the door to your next Kelowna or West Kelowna home with Grant Waidman today. Make sure to contact the Grant Waidman Group  to learn how we can  help save you time and money!

*All statistics are based on Central Okanagan Residential listings as published by OMREB.