More Related Content Similar to How's the north okanagan real estate market november 2010 Similar to How's the north okanagan real estate market november 2010 (20) How's the north okanagan real estate market november 20101. How’s the North Okanagan Real Estate Market?
Updated November 4, 2010
North Okanagan Real Estate
Key Performance Indicators
2. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 22
A Look at Key Performance Indicators.
• The following slides present an overview of the 6
key performance indicators we watch so that we
know what is happening in the market.
• We use this information to identify trends and
forecast upcoming events in the market.
• The Inventory and Absorption rates are presented
first – as these numbers dictate more than any
others what will happen to pricing.
• Information for these charts is pulled from the Okanagan Mainline Real Estate Board Statistics and
is believed to be correct, however should not be relied upon without verification
3. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 3
A Look at the North Okanagan Real Estate Market
From 2007 - 2010 including October 2010
4. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 44
The number of properties available:
935
1599
1384
1570
500
700
900
1100
1300
1500
1700
1900
2100
Jan-07
February
March
April
May
June
July
August
September
October
November
December
Jan-08
February
March
April
May
June
July
August
September
October
November
December
Jan-09
February
March
April
May
June
July
August
September
October
November
December
Jan-10
February
March
April
May
June
July
August
September
October
North Okanagan Residential Inventory 2007-2010
5. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 55
The number of properties sold each month:
165
80
135
46
0
50
100
150
200
250
300
Jan-07
February
March
April
May
June
July
August
September
October
November
December
Jan-08
February
March
April
May
June
July
August
September
October
November
December
Jan-09
February
March
April
May
June
July
August
September
October
November
December
Jan-10
February
March
April
May
June
July
August
September
October
North Okanagan Residential Sales 2007 -2010
6. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 66
The percentage of available properties sold:
20.00%
5.45%
11.76%
6.60%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
Jan-07
February
March
April
May
June
July
August
September
October
November
December
Jan-08
February
March
April
May
June
July
August
September
October
November
December
Jan-09
February
March
April
May
June
July
August
September
October
November
December
Jan-10
February
March
April
May
June
July
August
September
October
North Okanagan Absorption Rate - 2007 - 2010
Sales/Inventory Ratio
7. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 77
The Average number of Days on the Market:
72
98
111
92
0
20
40
60
80
100
120
140
160
Jan-07
February
March
April
May
June
July
August
September
October
November
December
Jan-08
February
March
April
May
June
July
August
September
October
November
December
Jan-09
February
March
April
May
June
July
July
August
September
October
November
December
Jan-10
February
March
April
May
June
July
August
September
October
North Okanagan Average Days to Sell 2007 - 2010
8. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 88
The Average sale price:
$396,514.87 $383,827.28
$375,827
$362,497
$300,000
$320,000
$340,000
$360,000
$380,000
$400,000
$420,000
$440,000
$460,000
Jan-07
February
March
April
May
June
July
August
September
October
November
December
Jan-08
February
March
April
May
June
July
August
September
October
November
December
Jan-09
February
March
April
May
June
July
August
September
October
November
December
Jan-10
February
March
April
May
June
July
August
September
October
North Okanagan Average House Price 2007 - 2010
9. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 99
The Median (Middle of the Market) Sale Price
$320,000
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
$370,000
$390,000
$410,000
$430,000
Jan-07
February
March
April
May
June
July
August
September
October
November
December
Jan-08
February
March
April
May
June
July
August
September
October
November
December
Jan-09
February
March
April
May
June
July
August
September
October
November
December
Jan-10
February
March
April
May
June
July
August
September
October
North Okanagan Residential Median Sale Price 2007-
2010
10. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 10
For Greater Perspective
A look back from 2000 forward in
North Okanagan Real Estate
Trends
11. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 1111
Historical: Inventory Trend by quarter
December, 683
June, 1966
October, 1570
500
700
900
1100
1300
1500
1700
1900
2100
january
April
July
October
Jan-01
April
July
October
Jan-02
April
July
October
Jan-03
April
July
October
Jan-04
April
July
October
Jan-05
April
July
October
Jan-06
April
July
October
Jan-07
April
July
October
Jan-08
April
July
October
Jan-09
April
July
October
Jan-10
April
July
October
North Okanagan Residential Inventory 2000-2010
12. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 1212
Historical: Number of properties sold
46
0
50
100
150
200
250
300
January
April
July
October
Jan-01
April
July
October
Jan-02
April
July
October
Jan-03
April
July
October
Jan-04
April
July
October
Jan-05
April
July
October
Jan-06
April
July
October
Jan-07
April
July
October
Jan-08
April
July
October
Jan-09
April
July
October
Jan-10
April
July
October
North Okanagan Residential Sales 2000 -2010
13. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 1313
Historical: Absorption Rate
April, 51.06%
October, 6.60%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
May-00
August
November
February
May
August
November
February
May
August
November
February
May
August
November
February
May
August
November
February
May
August
November
February
May
August
November
February
May
August
November
February
May
August
November
February
May
August
November
February
May
August
North Okanagan Absorption Rate - Sales / Inventory
Ratio 2000-2010
14. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 1414
Historical: Number of Days on Market
October, 339
March, 64
October, 92
50
100
150
200
250
300
350
January
April
July
October
Jan-01
April
July
October
Jan-02
April
July
October
Jan-03
April
July
October
Jan-04
April
July
October
Jan-05
April
July
October
Jan-06
April
July
October
Jan-07
April
July
October
Jan-08
April
July
October
Jan-09
April
July
September
December
March
June
September
North Okanagan Average Days to Sell 2000 - 2010
15. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 1515
Historical: Average Sale Price
$362,497
$100,000.00
$150,000.00
$200,000.00
$250,000.00
$300,000.00
$350,000.00
$400,000.00
$450,000.00
January
April
July
October
Jan-01
April
July
October
Jan-02
April
July
October
Jan-03
April
July
October
Jan-04
April
July
October
Jan-05
April
July
October
Jan-06
April
July
October
Jan-07
April
July
October
Jan-08
April
July
October
Jan-09
April
July
October
Jan-10
April
July
October
North Okanagan Average House Price 2000-2010
16. Copyright © 2010 Century 21 Real Estate LLC. All rights reserved. 1616
Historical: Median (middle of Market) Sale Price
$320,000
$100,000
$125,000
$150,000
$175,000
$200,000
$225,000
$250,000
$275,000
$300,000
$325,000
$350,000
$375,000
$400,000
$425,000
January
April
July
October
Jan-01
April
July
October
Jan-02
April
July
October
Jan-03
April
July
October
Jan-04
April
July
October
Jan-05
April
July
October
Jan-06
April
July
October
Jan-07
April
July
October
Jan-08
April
July
October
Jan-09
April
July
October
Jan-10
April
July
October
North Okanagan Residential Median Sale Price 2000 -
2010
17. Thank you for your interest in the North Okanagan
Real Estate Market.
Please feel free to contact us for further explanation
or to discuss your specific real estate questions,
concerns or thoughts.
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