how's the north okanagan real estate market recapping 2000 2010
DESCRIPTION
A look back at the key performance indicators for real estate in a 2 graph series. One series looks at the North Okanagan real estate market from January 2007 to December 2010, and the second that looks at the same indicators in a more historical perspective, from 2000-2010. You will see the following information on this presentation: North Okanagan real estate inventory levels North Okanagan residential sales levels North Okanagan Absorption rates The Number of Days to Sell on average and both the Average and Median Sale prices.TRANSCRIPT
How’s the North Okanagan Real Estate Market?
Updated January 10, 2011North Okanagan Real EstateKey Performance Indicators from 2000-2010
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 December 2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
44
The number of properties available:
500
700
900
1100
1300
1500
1700
1900
2100
December 1250
North Okanagan Residential Inventory 2007-2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
55
The number of properties sold each month:
Jan-
07
Mar
chM
ay July
Septe
mbe
r
Novem
ber
Jan-
08
Mar
chM
ay July
Septe
mbe
r
Novem
ber
Jan-
09
Mar
chM
ay July
Septe
mbe
r
Novem
ber
Jan-
10
Mar
chM
ayJu
ly
Septe
mbe
r
Novem
ber
0
50
100
150
200
250
300
72
39
94
50
North Okanagan Residential Sales 2007 -2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
66
The percentage of available properties sold:
Jan-
07
Mar
chM
ay July
Septe
mbe
r
Novem
ber
Jan-
08
Mar
chM
ay July
Septe
mbe
r
Novem
ber
Jan-
09
Mar
chM
ay July
Septe
mbe
r
Novem
ber
Jan-
10
Mar
chM
ay July
Septe
mbe
r
Novem
ber
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
10.75%
3.82%
10.53%
5.17%
North Okanagan Absorption Rate - 2007 - 2010 Sales/Inventory Ratio
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
77
The Average number of Days on the Market:
Jan-
07
Mar
chM
ay July
Septe
mbe
r
Novem
ber
Jan-
08
Mar
chM
ay July
Septe
mbe
r
Novem
ber
Jan-
09
Mar
chM
ay July
Augus
t
Octob
er
Decem
ber
Febru
ary
April
June
Augus
t
Octob
er
Decem
ber
0
20
40
60
80
100
120
140
160
86 9094
137
North Okanagan Average Days to Sell 2007 - 2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
88
The Average sale price:
$300,000
$320,000
$340,000
$360,000
$380,000
$400,000
$420,000
$440,000
$460,000
December $359,830.00
North Okanagan Average House Price 2007 - 2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
99
The Median (Middle of the Market) Sale Price
$250,000
$270,000
$290,000
$310,000
$330,000
$350,000
$370,000
$390,000
$410,000
$430,000
December $315,000.00
North Okanagan Residential Median Sale Price 2007-2010
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
January October July April Jan-03 October July April Jan-06 October July April Jan-09 October July500
700
900
1100
1300
1500
1700
1900
2100
December 683
December 1250
North Okanagan Residential Inventory 2000-2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1212
Historical: Number of properties sold
January October July April Jan-03 October July April Jan-06 October July April Jan-09 October July 0
50
100
150
200
250
300
December 50
North Okanagan Residential Sales 2000 -2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1313
Historical: Absorption Rate
May-00 April March February Jan-04 December November October September August July June0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
April 51.06%
December 5.17%
North Okanagan Absorption Rate - Sales / Inventory Ra-tio 2000-2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1414
Historical: Number of Days on Market
January October July April Jan-03 October July April Jan-06 October July April Jan-09September June50
100
150
200
250
300
350
December 137
North Okanagan Average Days to Sell 2000 - 2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1515
Historical: Average Sale Price
January October July April Jan-03 October July April Jan-06 October July April Jan-09 October July$100,000.00
$150,000.00
$200,000.00
$250,000.00
$300,000.00
$350,000.00
$400,000.00
$450,000.00
December $359,830.00
North Okanagan Average House Price 2000-2010
Copyright © 2010 Century 21 Real Estate LLC. All rights reserved.
1616
Historical: Median (middle of Market) Sale Price
January October July April Jan-03 October July April Jan-06 October July April Jan-09 October July$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
December $315,000.00
North Okanagan Residential Median Sale Price 2000 - 2010
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.Click Here for More North Okanagan Real Estate Market information
Your Okanagan Real Estate UmbrellaWe’ve got you covered.