The Central Zone of the Okanagan Mainline Real Estate Board (OMREB) reported October 2010 sales activity of all MLS® property types increased from last month but continues to be well down from sales reported this time last year. A sharp decline in new listings continues to bring down overall inventory levels; however, there is still plenty of selection for Buyers.
Active listings fell 3.81% compared to last year at this time, and new listings taken in October were down 14.98% over October 2009 (755 compared to 888) and they also declined 14% from last month (875). While overall sales declined 37.56% compared to last October (to 271 from 434), year to date units sold have only declined 3.45%. Total residential units sold decreased 39.66% from October 2009 (to 245 from 406) but improved marginally over last month. Year to date total sales volume for all property types is only 0.57% off 2009 year to date sales volume.
“While sales seem to have bottomed out in July, demand continues to be sporadic mirroring inconsistent consumer confidence.” says Brenda Moshansky, OMREB President and REALTOR® in the Central Zone. “News out of the US that the economy is slower to recover than expected has caused economic forecasters in Canada to downgrade their predictions from the spring. While this messaging understandably may make consumers cautious, the reality is that current conditions are ripe for buyers who can leverage purchasing power due to the great selection, more attractive pricing and record low interest rates; all of which may not be lasting conditions.”
Moshansky adds, “For Sellers in this market, pricing is important and working with a real estate professional to understand current market conditions is essential. Sellers need to be patient as buyers have more choices and are taking longer to make decisions.”
Friday, November 19, 2010
Thursday, March 18, 2010
Wednesday, December 16, 2009
Residential Sales in BC climbed 165%
December 9, 2009
Provincial Update...
Vancouver, BC - The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 165 per cent to 7,182 units in November compared to the same month last year. Last month posted the highest number of MLS® residential sales for the month of November since 2005, when 7,721 units changed hands. Triple-digit gains in province-wide unit sales reflect a low number of unit sales in November 2008.
“BC home sales remained at an elevated level in November,” said Cameron Muir, BCREA Chief Economist. “Low mortgage interest rates, pent-up demand and strong consumer confidence continue to be key drivers in the market.'
The torrid pace of home sales in the Fraser Valley, Vancouver and Victoria has propelled the provincial total to near record levels. However, consumer demand in these markets is expected to moderate in the new year as pent-up demand is largely expended and higher home prices erode affordability.
Year-to-date, MLS® residential sales dollar volume increased 21 per cent to $36.8 billion over the same period last year. A total of 79,325 units were sold in the first eleven months of 2009, up 19 per cent from 2008, while the average MLS® price increased 2 per cent to $463,555.
For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2009-11.pdf."
Provincial Update...
Vancouver, BC - The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 165 per cent to 7,182 units in November compared to the same month last year. Last month posted the highest number of MLS® residential sales for the month of November since 2005, when 7,721 units changed hands. Triple-digit gains in province-wide unit sales reflect a low number of unit sales in November 2008.
“BC home sales remained at an elevated level in November,” said Cameron Muir, BCREA Chief Economist. “Low mortgage interest rates, pent-up demand and strong consumer confidence continue to be key drivers in the market.'
The torrid pace of home sales in the Fraser Valley, Vancouver and Victoria has propelled the provincial total to near record levels. However, consumer demand in these markets is expected to moderate in the new year as pent-up demand is largely expended and higher home prices erode affordability.
Year-to-date, MLS® residential sales dollar volume increased 21 per cent to $36.8 billion over the same period last year. A total of 79,325 units were sold in the first eleven months of 2009, up 19 per cent from 2008, while the average MLS® price increased 2 per cent to $463,555.
For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2009-11.pdf."
Thursday, December 3, 2009
Incredible deals on luxury Waterfront Condo's in Kelowna
Looking for a great luxury, waterfront condo in premium downtown Kelowna location? Then look no further. Take advantage of the soft recreational market today. Priced way below current market value! Enjoy a waterfront, resort lifestyle or use your condo as a great investment, revenue property. Close to all amenities, beaches, parks, shopping, restaurants and cultural district. Smart buyers purchase now in Discovery Bay Resort. For more info go to my following listings, each of my listings has his own website: http://www.541discoverybay.com/, http://www.641discoverybay.com/, http://www.537discoverybay.com/ and http://www.222discoverybay.com/. Wednesday, August 13, 2008
Costa Rica's Outlook Raised on improved, fiscal, debt position
"Costa Rica's Outlook Raised On Improved Fiscal, Debt Position - Moody's
(Thomson Financial) - Moody's Investors Service it revised the outlook on Costa Rica's key ratings to positive from stable following 'significant improvement in fiscal and debt positions and the likelihood of the improvement continuing in the medium term'.
Moody's raised the outlook on Costa Rica's 'Ba1' foreign and local currency government bond ratings.
The outlook on the 'Baa3' foreign currency country bond ceiling and on the 'Ba2' foreign currency bank deposit ceiling was also revised to positive from stable.
'Costa Rica's remarkable fiscal performance over the past few years has been driven by significant expenditure restraint and an improvement in revenues, reflecting not only the business cycle but also a concerted effort to enhance collection,' Moody's said.
'As a result, the fiscal and debt positions have improved to such a degree that it would take a major crisis to reverse the virtuous debt dynamics seen in recent years,' Moody's added"
(Thomson Financial) - Moody's Investors Service it revised the outlook on Costa Rica's key ratings to positive from stable following 'significant improvement in fiscal and debt positions and the likelihood of the improvement continuing in the medium term'.
Moody's raised the outlook on Costa Rica's 'Ba1' foreign and local currency government bond ratings.
The outlook on the 'Baa3' foreign currency country bond ceiling and on the 'Ba2' foreign currency bank deposit ceiling was also revised to positive from stable.
'Costa Rica's remarkable fiscal performance over the past few years has been driven by significant expenditure restraint and an improvement in revenues, reflecting not only the business cycle but also a concerted effort to enhance collection,' Moody's said.
'As a result, the fiscal and debt positions have improved to such a degree that it would take a major crisis to reverse the virtuous debt dynamics seen in recent years,' Moody's added"
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