by Macrealty Marketing Team | Nov 2, 2023 | Market Updates
November 2023 – Lower Mainland Monthly Update
At 6.1 Months of Inventory, Prices are expected to Remain Flat.
The most reliable indicator of market prices is the Sales to Active Listings Ratio (SAL). This is the ratio between the number of sales in a given month and the number of active listings at month-end.
In hotter markets in BC, a long-term analysis has shown that prices will usually act in the following ways:
- 7+ Months of Inventory (Under 14% SAL): Prices will likely DECLINE
- 5 – 7 Months of Inventory (14% – 18% SAL): Prices will likely be STABLE
- Less than 5.5 Months of Inventory (Over 18% SAL): Prices will likely RISE
Visit this link to learn more about house prices and inventory.
Sales
Sales (2,966) were 5% higher than a year ago (2,804), and were 30% below the 10-year average (4,082).
Cumulative Year-to-date Sales
2023 continues to be slower as sales (36,163) remain below the 10-year average (45,215).
Inventory
Inventory (18,179 active listings) increased slightly from the previous month, and are now above the 10-year average for the first time since Nov 2020 (19,041 average).
Sales to Active Listings
Low sales but modest inventory kept the Sales to Active Listing Ratio at 16%, indicating flat prices.
Months of Inventory
Similarly, Months of Inventory rose to 6.1 MOI, indicating a balanced market and flat prices.
Want to learn more about these stats or discuss your move to Macdonald Realty?
Check out careersinbcrealestate.com to connect today!
by Macrealty Marketing Team | Aug 22, 2019 | Other
With so many wonderful homes listed by Macdonald Realty, it was difficult to choose a few to feature.
Let’s get inspired by these six sophisticated and inviting rooms we’ll never want to leave.
Bright & Blue Kitchen
Here is a clean & bright kitchen. The happy blue color invites us to stay here forever. The custom wood cabinetry is classic and we love the way it adds charm and sophistication to this fantastic space.
Listed by Sean Stevens Personal Real Estate Corporation – Price $1,799,000 – Macdonald Realty / MLS® R2389170
Living Room with a Charm
If there’s anything that can make us stop mid-scroll on Instagram or Facebook, it’s a well-designed living room with a touch of blue! There’re so many great little details here, like the blue cushions that don’t compete with the rest of the decor and this amazing fireplace. It is all clean, and the natural light brings this feeling of a cozy home.
Listed by James McKenny – Price $739,000 – Macdonald Realty / MLS® R2397788
A Palette of Wood & Greys
We love when the color palette of a house works so seamlessly through the entire space. This combination of greys and wood tones gives this space a very warm look! The natural light coming through the window boosts all the tones and textures of the fabric and wood grain. The dining table is also gorgeous and these dark modern chairs bring a touch of classic decor to a contemporary space.
Listed by Richie Huang Personal Real Estate Corporation & Lucia Wang Personal Real Estate Corporation & Jerry Y. Wang Personal Real Estate Corporation – Macdonald Realty / MLS® R2398149
Office & Accessories
All the clean colours work very nicely with the white desk! We love the super soft rug draped across the chair. Accessories can make a big difference and can give a home character and personality. The bright floor and pale grey walls could give to this space an almost clinical look; however, everything in this room is perfect. So clean, so natural, so ready to work!
Listed by Julie Phoenix – Macdonald Realty / MLS® R2365716
Open Plan Kitchen & Living Room
This kitchen looks so luxurious with the white lower cupboards and the custom countertop. The living room is also stunning – it looks straight out of a home magazine. Unique!
Listed by Emily Sandhack – Macdonald Realty / MLS® R2391231
Gorgeous Bathroom
The neutral floors and walls really stand out! It’s simple and sophisticated at the same time. This beautiful bathroom has an open feel of a contemporary space. The bathtub adds charm to the everyday routine, with its minimalist yet functional style.
Listed by Lynn Johnson & Vita Kalns Personal Real Estate Corporation & Bruce Warner – Macdonald Realty / MLS® R2390880
Want to see more? Search listings on macrealty.com and find more homes today to inspire you. Partner with one of our agents!
by Macrealty Marketing Team | Oct 5, 2018 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on Squamish, Whistler, and Sunshine Coast listings and sales in September 2018.
Squamish
In September 2018, there were 11 sales of detached homes and 151 active listings in Squamish. The benchmark sale price was $985,100 with an average days on market of 68.
The condo market had 8 sales and 46 active listings at the end of the month. The benchmark sale price was $482,700 with an average days on market of 61.
Townhome sales were 3 sales, active listings were 54. The benchmark sale price was $726,700 and the average days on market were 71.
It’s a buyer’s market for homes and townhomes.
(more…)
by Macrealty Marketing Team | Oct 4, 2018 | Market Updates
Central Okanagan: Kelowna and Lake Country
There were 180 sales, 1,241 active listings, and a $720,824 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country. The average days on market were 58.
The condo market featured 94 sales and 536 active listings at the end of the month. The average sale price was $346,102 with 64 average days on market.
Townhome sales were 46, active listings were 385, average sale price was $510,426, and the average days on market were 71.
It’s a buyer’s market for homes and townhomes.
(more…)
by Macrealty Marketing Team | Sep 11, 2018 | Market Updates
Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in August 2018.
Central Okanagan: Kelowna and Lake Country
There were 190 sales, 1,265 active listings, and a $687,413 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country. The average days on market were 60.
The condo market featured 116 sales and 554 active listings at the end of the month. The average sale price was $354,728 with 60 average days on market.
Townhome sales were 75, active listings were 359, average sale price was $504,574, and the average days on market were 67.
North Okanagan: Vernon and surrounding area
In North Okanagan, including Vernon and the surrounding area, the average sale price was $483,666 with an average days on market of 62 days for detached homes. At the end of the month, there were 93 sales and 500 active listings.
There were 14 sales and 78 active listings for condos. The average sale price was $256,089, and the average days on market were 47.
In comparison, townhome featured 32 sales, 138 active listings and a $355,447 average sale price with 68 average days on market.
Looking for more information about the real estate market in specific neighbourhoods in Okanagan?
Macdonald Realty has offices in Kelowna and across BC. Please email [email protected] or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
This blog post is based on market data provided by Okanagan Mainline Real Estate Board (OMREB) www.omreb.com.
