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Here's what's happening in your neighbourhood:

We hope you find the MLS® real estate statistics below useful. We're happy to answer any of your home buying or selling questions. Please feel welcome to post a comment or call us at 250-503-3461.

Single Family Homes Actively Listed on October 7, 2011 + Homes Sold in the 3 Months to September 30, 2011
Sub-Area	# Listed	Avg. List $	Mths Supply	Market	# Sold	Avg. Sold $	Sold / List	Avg. DOM
Alexis Park, Harwood, Vernon City	105	$412,036	14	Extreme Buyer's	23	$340,924	97%	104
Mission Hill, South Vernon, Westmount	35	$323,580	13	Extreme Buyer's	8	$285,188	97%	116
East Hill	81	$388,148	8	Balanced	30	$330,983	97%	112
Foothills, North BX, South BX	72	$542,686	11	Normal Buyer's	19	$493,895	96%	129
Silver Star	16	$762,050		Extreme Buyer's	0
Swan Lake West, Bella Vista, Adventure Bay	83	$503,265	23	Extreme Buyer's	11	$357,573	96%	105
Okanagan Landing, Predator Ridge, Commonage, Carrs Landing	110	$628,964	12	Extreme Buyer's	27	$478,486	98%	136
Coldstream, Lavington	93	$599,091	9	Normal Buyer's	30	$465,483	96%	144
Whitevale, Lumby	40	$315,808	12	Extreme Buyer's	10	$292,130	95%	104
Cherryville, Trinity Valley	1	$369,900		Extreme Buyer's	0
Ashton Creek, Mable Lake	2	$514,000		Extreme Buyer's	0
Enderby, Grindrod, Armstrong, Spallumcheen	158	$346,474	24	Extreme Buyer's	20	$331,500	97%	158
Salmon Valley, Falkland	22	$268,909	67	Extreme Buyer's	1	$220,000	85%	79
Okanagan North, Fintry	82	$325,050	18	Extreme Buyer's	14	$255,000	94%	195
Lake Country East & South West, Oyama	72	$507,471	13	Extreme Buyer's	17	$472,353	96%	90
Total:	972	$454,577	14	Extreme Buyer's	210	$388,688	96%	128

Based on data from the Okanagan Mainline Real Estate Board MLS®. These are believed to be accurate but are not warranted.

In a "Buyer's Market" there are many more homes for sale than there are buyers, causing home prices to drop.
In a "Seller's Market" there are more buyers than there are homes for sale, so home prices begin to rise.
A 6 to 9 months supply of homes listed indicates a "Balanced Market" where there is little movement in price.

Here are some links to other real estate statistics that we hope you find useful:

• North Okanagan MLS® Average Sold Prices 1988-2010
• North Okanagan MLS® Number of Homes Sold 1988-2010
• North Zone of the Okanagan Mainline Real Estate Board (OMREB)
• British Columbia Real Estate Association (BCREA)
• Canadian Real Estate Association (CREA)
• Other Vernon BC MLS® Statistics
  

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We want to give you an option to make some money in real estate which is one of the safest out there. It’s also an option that will enable you to help people to get into a home of their own, so you’ll feel good about the investment too. We work with a lot of people who are looking to rent-to-own their own home.

There are many reasons why people cannot qualify. Many of the tenant/buyers are young professionals or self-employed individuals who earn a good income and understand the value of home ownership, but haven't saved enough towards a down payment. We help that tenant establish a monthly payment plan so that at the end of their lease they will have saved up enough money for the down payment.

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Here's What's Happening In Your Neighbourhood:

We hope you find the MLS® real estate statistics below useful. We're happy to answer any of your home buying or selling questions. Please feel welcome to post a comment or call us at 250-503-3461.

Single Family Homes Actively Listed on September 2, 2011 + Homes Sold in the 3 Months to August 31, 2011
Sub-Area	# Listed	Avg. List $	Mths Supply	Market	# Sold	Avg. Sold $	Sold / List	Avg. DOM
Alexis Park, Harwood, Vernon City	114	$402,631	14	Extreme Buyer's	25	$322,880	96%	83
Mission Hill, South Vernon, Westmount	34	$332,824	10	Normal Buyer's	10	$291,050	97%	98
East Hill	80	$386,425	7	Balanced	33	$348,530	96%	121
Foothills, North BX, South BX	71	$548,572	14	Extreme Buyer's	15	$444,767	96%	143
Silver Star	16	$758,425		Extreme Buyer's	0
Swan Lake West, Bella Vista, Adventure Bay	76	$504,713	18	Extreme Buyer's	13	$331,654	96%	67
Okanagan Landing, Predator Ridge, Commonage, Carrs Landing	122	$607,923	14	Extreme Buyer's	26	$493,601	98%	154
Coldstream, Lavington	100	$635,015	8	Balanced	40	$476,253	97%	145
Whitevale, Lumby	44	$325,777	15	Extreme Buyer's	9	$260,978	95%	96
Cherryville, Trinity Valley	2	$414,450		Extreme Buyer's	0
Ashton Creek, Mable Lake	2	$514,000	6	Balanced	1	$599,000	86%	199
Enderby, Grindrod, Armstrong, Spallumcheen	157	$351,872	16	Extreme Buyer's	30	$320,117	96%	150
Salmon Valley, Falkland	20	$265,975	20	Extreme Buyer's	3	$206,300	95%	80
Okanagan North, Fintry	98	$337,834	15	Extreme Buyer's	19	$253,653	93%	208
Lake Country East & South West, Oyama	82	$530,976	13	Extreme Buyer's	19	$441,755	96%	80
Total:	1,018	$460,356	13	Extreme Buyer's	243	$377,505	96%	128

Based on data from the Okanagan Mainline Real Estate Board MLS®. These are believed to be accurate but are not warranted.

In a "Buyer's Market" there are many more homes for sale than there are buyers, causing home prices to drop.
In a "Seller's Market" there are more buyers than there are homes for sale, so home prices begin to rise.
A 6 to 9 months supply of homes listed indicates a "Balanced Market" where there is little movement in price.

Here are some links to other real estate statistics that we hope you find useful:

• North Okanagan MLS® Average Sold Prices 1988-2010
• North Okanagan MLS® Number of Homes Sold 1988-2010 
• North Zone of the Okanagan Mainline Real Estate Board (OMREB)
• British Columbia Real Estate Association (BCREA)
• Canadian Real Estate Association (CREA)
• Other Vernon BC MLS® Statistics

SOLD - Relax over morning coffee on sun flooded covered deck overlooking BX hillside. Jog to BX Creek Falls or Grey Canal Trails or a quick 12 minute drive to Silver Star Resort. 2 Bedrooms + 2 dens - one bedroom & den per floor. Hardwood & tile flooring on main with easy maintenance laminate flooring in basement. Rancher entry from lane access with workshop area in double garage. Open great room with vaulted ceilings & transom windows for extra natural lighting. Corner gas fireplace for cozy winter afternoons after skiing. French door from patio to Master Bedroom & large ensuite with seperate toilet room, soaker tub & seperate shower. Walkout from basement level to Manning Place for easy 2 road access. Large family room down with double french doors to covered patio. Oversized 2nd bedroom, 3 piece bathroom + exercise/den room down plus utility/storage room. Small triplex strata with 1 year old HardiPlank siding & trim. No pet or age restriction and room for small RV/trailer/boat.

For more information or to view this home please call 250-503-3461, toll free 1-888-225-2277.

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Canadian Real Estate Association National June 2011 MLS® Statistics

Home sales activity over MLS® Systems of the Canadian Real Estate Boards climbed in June 2011 compared to May.

Highlights:

• Sales activity climbed from May to June, with a big year-over-year gain reflecting falling demand in June 2010.
• Year-to-date sales remain in line with the ten-year average.
• The number of newly listed homes also rose from May to June.
• National housing market remains firmly entrenched in balanced territory.
• National average price still being skewed upward by the value of sales in expensive Vancouver neighbourhoods, with price gains in other markets providing additional loft.

Seasonally adjusted national home sales activity rose 2.6 per cent in June 2011 compared to the previous month. Two-thirds of local markets posted month-over-month gains in June.

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The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province rose 2.4 per cent to 7,904 units in June compared to the same month last year. The average MLS® residential price climbed 14.4 per cent to $571,837 last month compared to June 2010.

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As expected, the Bank of Canada maintained the policy rate at 1.00% on July 19th; however, the Bank assumed a more aggressive tone with respect to the outlook saying that "some of the considerable monetary policy stimulus currently in place will be withdrawn." This is a step up from the May statement, which projected that stimulus would be "eventually withdrawn." On the outlook for the global economy, the Bank reiterated that the expansion is proceeding as it expected in the April forecast. On global inflation, the Bank maintained that global pressures have broadened as strong growth in the emerging markets keeps upward pressure on commodity prices. The Bank expects that commodity prices will remain at elevated levels. Importantly, the Bank's forecast assumes that the European sovereign-debt crisis will be contained.

Recent data and the prospect of stronger growth going forward suggest that domestic conditions warrant higher interest rates. This is especially true in light of the stronger than expected inflation and employment numbers lately. The Bank's decision, however, to maintain the policy rate at 1.0% reflects lingering concerns about the pass through of external developments on Canada's economy. Uncertainty about U.S. and Eurozone fiscal policy, and the likelihood that there will be significant steps made toward the resolution of their fiscal challenges to placate financial markets is keeping alive the potential for global risk premia to rise. Even with its superior economic and fiscal fundamentals, it is unlikely that Canadian financial markets will be able to avoid coming under pressure should this occur.

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OMREB North Okanagan July 2011 MLS® Statistics

The North Zone of the Okanagan Mainline Real Estate Board (OMREB) reported June 2011 sales activity of all MLS® property types were down compared to sales reported at this time last year but improved over May as the market shows more stability moving into summer.

Overall sales for June 2011 were down by 5.07% compared to 2010 (to 131 from 138), with sales volumes at $43.2 million compared to $48.9 million last year. However, sales improved 6.5% over the 123 units sold during May. While total residential sales for June rose by 8.11% to 120 compared to 111 in June 2010, single family sales jumped 37.74% over last year to 73 units from 53. Last month’s inventory Overall sales for June 2011 were down by 5.07% compared to 2010 (to 131 from 138), with sales volumes at $43.2 million compared to $48.9 million last year. However, sales improved 6.5% over the 123 units sold during May. While total residential sales for June rose by 8.11% to 120 compared to 111 in June 2010, single family sales jumped 37.74% over last year to 73 units from 53. Last month’s inventory dipped 6.54% compared to last June (to 2,629 from 2,813), while new listings dropped 15.42% over the same month in 2010 (to 406 from 480) – down 12.31% from this May (463).

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