Court Ordered Sales

Central Okanagan (Peachland to Lake Country including Kelowna) 

A Closer Look 

Okanagan Mainline real estate board lists 173 foreclosures

80 are single family homes

87 are condos

 The Single Family Homes are fairly well spread throughout the area, with 31 being inKelowna. They are in all price ranges, including 7 over a million dollars. 

The good news is that last year 107 were sold, so the 80 for sale now represents an 8 month inventory. 

 The condos are a different story

11 are at Big White ski resort

13 are new condos in Brookstone and Sitara in Lake Country

35 are new condos in Copper Sky in West Kelowna

That leaves 28 spread throughout the area with only 21 in Kelowna.

 The good news is that last year, 81 were sold so there is about 12 month inventory.

 What is impressive is that with these foreclosures being sold at sometimes bargain prices, the average sale price of homes and condos in the Central Okanagan is still holding up well.

 Stats Courtesy of OMREB

Property Type Jan 2012 Jan 2011 Incr/Decr %
Single Family 415,358 437,328 -5.02%
Condo apt. 267,945 263,720 +1.6%
Condo twnhse 380,372 318,788 +19.3%

See our website for a graph of average sale prices 1983-2011 www.pcrealty.ca

 What should you do now?

Look at some of these court sales and maybe pick up a bargain. Get expert help to avoid the pitfalls.

Lakeshore foreclosuresClick the following URL to see the listings:
http://matrix.omrebmls.ca/DE.asp?ID=371634533

Contact us at Premier Canadian Properties 250.717.1886 or Toll Free 1.877.717.1886 or by email: bert@pcrealty.ca

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