MARKET UPDATE (FEBRUARY 2022)

Real Estate

Mar 1

Just your friendly neighbourhood Real Estate Agent wanting to bring you up to date on what’s happening at The Verve:

New Listings:
#301 539 Yates Road - 1 Bed | 1 Bath
#116 547 Yates Road - 1 Bed | 1 Bath
#210 555 Yates Road - 1 Bed | 1 Bath
#109 539 Yates Road - 2 Bed | 2 Bath
#401 563 Yates Road - 2 Bed | 2 Bath
#107 551 Yates Road - 2 Bed | 2 Bath
#207 551 Yates Road - 2 Bed | 2 Bath

Sold Listings:
#210 555 Yates Road - 1 Bed | 1 Bath
#107 551 Yates Road - 2 Bed | 2 Bath
#411 547 Yates Road - 2 Bed | 2 Bath
#114 563 Yates Road - 2 Bed | 2 Bath
#207 571 Yates Road - 2 Bed | 2 Bath

In February, there were seven new listings and five sales at The Verve, which is a 37.50% decrease in sales compared to the eight sales in February of the previous year.

Year to date, there have been a total of nine new listings at The Verve, which represents a 10% decrease over the ten new listings during the same time period last year. However, there have been a total of eleven sales, which represents a 22.22% increase compared to the nine sales during the same time period last year.

The average price for a 1 bedroom, 1 bathroom unit moved to $389,375 which represents a 14.08% increase year-to-date and the average price for a 2 bedroom, 2 bathroom unit moved to $502,343, which represents a 19.39% increase year to date.

Below you will find market statistics for Average Price, Market Increase/Decrease, Average Days on Market, Number of units Sold, and Sold Inventory.

If you have any questions, please do not hesitate to reach out.

Your Verve Specialist,

KYLE B. JANZEN, B.Comm
Personal Real Estate Corporation
Sage Executive Group Real Estate
t: (778) 215-2784
e: kylebjanzen@gmail.com
w: www.kylebjanzen.com

AVERAGE PRICE (YTD)

1 BED / 1 BATH - $389,375 ( ↑ from $341,304 in 2021)
2 BED / 1 BATH - nil ( ↑/↓ from $0 in 2021)
2 BED / 2 BATH - $502,343 ( ↑ from $420,753 in 2021)
3 BED / 2 BATH - nil ( ↑/↓ from $0 in 2021)

MARKET INCREASE/DECREASE (YTD)

1 BED / 1 BATH - ↑ 14.08%
2 BED / 1 BATH - nil
2 BED / 2 BATH - ↑ 19.39%
3 BED / 2 BATH - nil

AVERAGE DAYS ON MARKET (YTD)

1 BED / 1 BATH - 30 ( ↓ from 18 Days in 2021)
2 BED / 1 BATH - nil ( ↑/↓ from nil days in 2021)
2 BED / 2 BATH - 26 ( ↓ from 21 Days in 2021)
3 BED / 2 BATH - nil ( ↑/↓ from nil days in 2021)

NUMBER OF UNITS SOLD (YTD)

1 BED / 1 BATH - 4 Units
2 BED / 1 BATH - 0 Units
2 BED / 2 BATH - 7 Units
3 BED / 2 BATH - 0 Units

SOLD INVENTORY (YTD)

Real EstateKelowna Real EstateCondos for SaleThe VerveThe Verve KelownaVerve Kelowna

Kyle B. Janzen