how's the market? north okanagan real estate stats update, july 2010
DESCRIPTION
This presentation will give you a look back at the key performance indicators we watch in evaluating the North Okanagan Real Estate Market. There are 2 sets of graphs - one looks at 2007 - 2010 and the other gives historical perspective looking at real estate trends over time - from 2000 to 2010TRANSCRIPT
How’s the North Okanagan Real Estate Market?
Updated July 5, 2010North Okanagan Real EstateKey Performance Indicators
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
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
3
A Look at the North Okanagan Real Estate MarketFrom 2007 - 2010 including June 2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
44
The number of properties available:
may
june
july
august
september
octo
ber
november
december
Jan-08
february
march
april
may
june
july
august
september
octo
ber
november
december
Jan-09
february
march
April
May
June
July
August
September
Octo
ber
november
december
Jan-10
february
march
april
May
June
600
800
1000
1200
1400
1600
1800
2000
2200
941
15381687
1966
North Okanagan 2007 - 2010 Residential Inventory
Month
# T
ota
l Re
sid
en
tia
l Lis
tin
gs
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
55
The number of properties sold each month:
may
july
september
november
Jan-08
march
may
july
september
november
Jan-09
march
may
July
September
november
Jan-10
march
May
0
50
100
150
200
250
300240
135165
50
North Okanagan 2007 -2010Residential Sales
Month
# T
ota
l Re
sid
en
tia
l Sa
les
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
66
The percentage of available properties sold:
september july may march Jan-04 novemberseptember july may march Jan-09 november0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
North Okanagan 2000 - 2010Residential Sales vs. Inventory Ratio
Absorption Rate
% o
f ac
tive
lis
tin
gs
sold
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
77
The Average number of Days on the Market:
may
june
july
august
september
octo
ber
november
december
Jan-08
february
march
april
may
june
july
august
september
octo
ber
november
december
Jan-09
february
march
april
may
June
July
July
August
September
octo
ber
november
december
Jan-10
february
march
april
may
june
40
60
80
100
120
140
160
69
77
105
97
North Okanagan DOM Trend2007 - 2010
Month
# D
ay
s o
n M
ark
et
Re
sid
en
tia
l
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
88
The Average sale price:
may
june
july
august
september
octo
ber
november
december
Jan-08
february
march
april
may
june
july
august
september
octo
ber
november
december
Jan-09
february
march
april
may
june
July
August
September
octo
ber
november
december
Jan-10
february
march
april
may
june
$290,000.00
$310,000.00
$330,000.00
$350,000.00
$370,000.00
$390,000.00
$410,000.00
$430,000.00
$450,000.00
$366,573.21
$390,814.37
$384,852.00
$439,459.00North Okanagan 2007 - 2010
Average House Price Residential
Month
Av
era
ge
Ho
us
e P
ric
e
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
99
The Median (Middle of the Market) Sale Price
may
june
july
august
september
octo
ber
november
december
Jan-08
february
march
april
may
june
july
august
september
octo
ber
november
december
Jan-09
february
march
april
may
June
July
August
September
Octo
ber
november
december
Jan-10
february
march
april
may
june
$290,000.00
$310,000.00
$330,000.00
$350,000.00
$370,000.00
$390,000.00
$410,000.00
$430,000.00
$340,000.00
$376,000.00$372,500.00
$374,250.00
North Okanagan 2007 - 2010 Median House Price
Month
Me
dia
n H
ou
se
Pri
ce
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
10
For Greater PerspectiveA look back from 2000 forward in North Okanagan Real Estate Trends
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1111
Historical: Inventory Trend by quarter
september may Jan-02september may Jan-04september may Jan-06september may Jan-08september May Jan-100
500
1000
1500
2000
2500
North Okanagan 2000 -2010Residential Inventory
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1212
Historical: Number of properties sold
september
december
march jun
e
september
december
march jun
e
september
december
march jun
e
september
december
march jun
e
september
december
march jun
e
september
december
march jun
e
september
december
marchJune
September
december
marchJune
0
50
100
150
200
250
300
North Okanagan 2000 -2010 Residential Sales
#
Sal
es
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1313
Historical: Absorption Rate
september july may march Jan-04 novemberseptember july may march Jan-09 november0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
North Okanagan 2000 - 2010Residential Sales vs. Inventory Ratio
Absorption Rate
% o
f ac
tive
lis
tin
gs
sold
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1414
Historical: Number of Days on Market
april Jan-01 october july april Jan-04 october july april Jan-07 october july april december0
50
100
150
200
250
300
350
400
North Okanagan Days on the Market2000 - 2010
# d
ays
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1515
Historical: Average Sale Price
May-00 februarynovember august may februarynovember august may februarynovember august may february$0.00
$50,000.00
$100,000.00
$150,000.00
$200,000.00
$250,000.00
$300,000.00
$350,000.00
$400,000.00
$450,000.00
$500,000.00
North Okanagan 2000-2010Average House Sale Price
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1616
Historical: Median (middle of Market) Sale Price
May-00 april march february Jan-04 december november october september august July june$0.00
$50,000.00
$100,000.00
$150,000.00
$200,000.00
$250,000.00
$300,000.00
$350,000.00
$400,000.00
$450,000.00
North Okanagan 2000-2010Residential Median Price
Med
ian
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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