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South Okanagan Real Estate Monthly Market Update Jan 31, 2011 – Raymond MAASKE

 

Transcription of Video

Hi, this is Raymond Maaske of Homestar Realty bringing you the monthly market update for the South Okanagan. Specifically we are going to look at Summerland and Penticton but as you can see on the screen I have the statistics for all areas in the South Okanagan and are quite familiar with it but I want to bring your attention to specific markets of Summerland and Penticton. So if we take a look at what has happened for the month ending January 30th or 31st 2011 you can see that the listings are down 25%, the units reported sold down 42%, and the dollar value is down almost 40%, and the average list price or list to sale price per unit is up 5% surprisingly in Penticton. Now if we move down here to Summerland, and let’s look at that market, you’ll see that the number of listings is down 38% units sold, the number of units is up 11%, but this is interesting that the dollar value is down 24% and that the average sale price per unit is down 31%.

Take a look here at Summerland; a year ago last January the average sale price was $555,000; its now at $381,000. This is a tremendous time as you can look at the statistics here, tremendous value offered there. If you’re a buyer and you are looking to get into the market, now is the time to give me a call and I’ve got a list as long as my arm of good deals out there right now. If you’re trying to sell or thinking of selling and just not getting it sold we have some innovative marketing techiques that have been proving very successful. It’s really hard work, the latest technology, and just networking with people in the industry working together to get properties sold and to find properties for people buying. It’s Raymond Masske with market update for the month ending January 31, 2011.