8/22/2019 OMREB July 2013 Stats Media Release
1/2
MEDIARELEASE
ForImmediateRelease:
August6,2013
Okanagan
Shuswap
Housing
Market
Sweats
it
Out
in
the
Heat
of
Summer
Kelowna,BCTheOkanaganMainlineRealEstateBoard(OMREB)reportedJuly2013salesactivityof
allMLSpropertytypesimprovedoverthesamemonthlastyearbutwasdownslightlyfromJune.
Followingafairlyflatfirstquarter,theOkanaganShuswaphasexperiencedasteadyyearoveryear
increase in salesduring thepast fourmonths.While some
segmentsareheatingup and seeing a
turnaround in consumer demand compared to last year at this time
echoing stronger activity
provincewide
overallmarketconditionsarestillstabilizinginourBoardarea.saysKarenSingbeil,
anactiveREALTORintheShuswapZoneandOMREBPresident.
July
is
typically
slower
than
June,
and
even
more
so
this
year,
as
some
areas
have
seen
more
impact
than others from the Alberta floods especially the
recreationmarket in the Shuswap and the
investmentcondomarketintheCentralOkanagansegmentsthathavealsobeenaffectedbytighter
creditconditions.
Duetothedivergence
inOMREBsthreemarketareas,salesactivitytendstovaryamongproperty
types zonebyzone, Singbeil cautions. Although sales activity
during July saw a noticeable
improvement
insomeareasandbypropertytype,theCentralOkanaganexperiencedmoremodest
gains,and theNorthOkanagan sawa slightdeclinewhich ismore
typicalof the summermonths.
Prices within some property types, such as recreational
waterfront in the Shuswap, have seen
significantadjustments.Whileunitsalesmaybe
increasingandshowingapositiveperspective,you
haveto
look
at
prices
within
property
types
and
sale
price
trends
within
different
price
points
to
reallyunderstandtheoverallpictureofthecurrentresidentialmarket.
Boardwide (Peachland to Revelstoke): Overall sales of all
property types reported inOMREBs
Board area during July improved by 12.4% compared to 2012 to 716
units from 637. Total
residentialsalesforthemonthrose12.5%to640unitscomparedto569inJuly2012.
New listings takenboardwide for themonthdipped3.5%with1,472
listingspostedcompared to
1,525lastJuly,andinventorywasdown8.8%overthistimelastyear
to8,976from9,846.
CentralZone (Peachland toLakeCountry): During July,overall sales
in theCentralZonewereup
13.0%to
471
units
from
417
in
2012.
Year
to
date,
unit
sales
for
January
through
July
saw
amodest
improvement(6.0%)with2,621comparedto2,471unitsduringthesameperiodlastyear.
Totalresidentialsales forthemonth
improved15.2%to432unitscomparedto375 lastyear. The
915new listingstaken
intheCentralOkanaganduringthemonthshowedaslightdipcomparedto
2012(down0.3%from918),bringinginventorydown11.4%to4,611unitsfrom5,203lastJuly.
NorthZone(PredatorRidgetoEnderby):
OverallsalesforJulyintheNorthZoneshowedanominal
declineover lastyearatthistimedown2.7%to144units from148 in2012.
Yeartodate,sales
wereonparwiththefirstsevenmonthsof2012,dippingslightly(1.5%)
to868from881.
8/22/2019 OMREB July 2013 Stats Media Release
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OMREBStatsMediaReleaseforJULY 2013 Page2of2
DISCLAIMER:MonthlySalesstatisticsarebasedonthesalesreportedbyrealestateofficesonorbeforethelastdayofthemonth.Salesnotreportedbymonthendandcollapsedsalesarereflectedinthesubsequentmonthsstatistics.
Totalresidentialsales forthemonthweredown3.8%over lastyear
to128units from133. While
inventory for July dropped 7.2% to 2,507 from 2,702 in 2012, the
344new listings taken for the
monthdeclined9.2%fromthe2012level(379).
ShuswapZone(SalmonArmtoRevelstoke):
DuringJuly,overallunitsalesintheShuswapRevelstoke
Zone improvedby40.9% at100units compared to71 in2012.
Yeartodate,2013 sales (January
throughJuly)wereup8.4%comparedtolastyearatthistimeto463from427.
Total residentialsales for themonthsawa31.2%
improvementwith80unitscompared to61 last
year. Whilenew listings taken in theZonedropped6.7%over last
July (to211 from226),overall
inventorydipped4.4%to1,849from1,934duringthesamemonthin2012.
Now is a great time to buy in the OkanaganShuswap while there is
still a good selection of
properties and opportunities to get into a home or recreation
property at an attractive price.
Singbeilsays.
Ifyouareplanningon
listingyourhome,consultwithaREALTORabouthowyourpropertytypeis
currently faring locally,andmoresignificantly,how
itcomparestosimilar listings inyourparticular
neighbourhood.Home
values
vary
based
on
type
and
location,
so
it
is
important
to
ensure
your
pricingisappropriateforthemarketarea,andhasroomforbuyerstonegotiate.
Serioussellersrecognizethattheirpropertiesmustbepricedwithinthecurrentmarketconditionsin
ordertoobtainasuccessfulsale.
Itisevidentthatwellpricedpropertiesattractattentionandshould
sell.
TheOkanaganMainlineReal EstateBoard is comprisedof
1,019memberREALTORS and 93 real
estateoffices in theSouthern InteriorofBC. TheBoardareacovers
theCentralOkanagan,North
OkanaganandShuswapfromPeachlandtoRevelstoke.
Forthemostcomprehensivesourceofallrealestate
listings,homebuyingandselling information,
visitour
national
websites
at:
www.realtor.ca
and
www.icx.ca.
To
find
out
about
the
advantages
of
usingaREALTOR,checkoutwww.howrealtorshelp.ca.
AllOMREB listings are published in theMLSReal EstateReview
andMLS Commercial Review
magazinesavailableatall realestateofficesandvarious locations in
theCentralOkanagan,North
Okanagan, the Shuswap and Revelstoke areas. For comprehensive
Boardwide statistical
information,pleasevisitourlocalpublicsite: www.omreb.com
30
Formoreinformation:
KarenSingbeil,
OMREB
President
(Board
wide
statistical
information)
[email protected] (250)8362223
CameronMuir,BCREAChiefEconomist,orBrendonOgmundson,Economist
(Provincewidestatsinformation)
[email protected] (604)7422780 / [email protected]
(604)7422796
JanBauman,OMREBCommunications
[email protected] (250)4914560,Ext224
