MARKET UPDATE (SEPTEMBER 2022)

Real Estate

Oct 1

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

New Listings:
#200 567 Yates Road - 1 Bed | 1 Bath
#207 567 Yates Road - 1 Bed | 1 Bath
#107 547 Yates Road - 2 Bed | 2 Bath
#104 533 Yates Road - 2 Bed | 2 Bath
#202 547 Yates Road - 3 Bed | 2 Bath

Sold Listings:
#300 539 Yates Road - 1 Bed | 1 Bath
#403 551 Yates Road - 2 Bed | 2 Bath

In September, there were five new listings and two sales at The Verve, which is comparable to the two sales in September of the previous year.

Year to date, there have been a total of sixty-one new listings at The Verve, which represents a 19.60% increase over the fifty-one new listings during the same time period last year. There have been a total of forty-three sales, which represents a 10.42% decrease compared to the forty-eight sales during the same time period last year.

The average price for a 1 bedroom, 1 bathroom unit moved to $391,763 which represents a 14.78% increase year-to-date, and the average price for a 2 bedroom, 2 bathroom unit moved to $526,448, which represents a 25.12% 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 - $391,763 ( ↑ from $341,304 in 2021)
2 BED / 1 BATH - $470,000 ( ↑/↓ from $0 in 2021)
2 BED / 2 BATH - $526,448 ( ↑ from $420,753 in 2021)
3 BED / 2 BATH - nil ( ↑/↓ from $0 in 2021)

MARKET INCREASE/DECREASE (YTD)

1 BED / 1 BATH - ↑ 14.78%
2 BED / 1 BATH - nil
2 BED / 2 BATH - ↑ 25.12%
3 BED / 2 BATH - nil

AVERAGE DAYS ON MARKET (YTD)

1 BED / 1 BATH - 22 ( ↓ from 18 Days in 2021)
2 BED / 1 BATH - 45 ( ↑/↓ from nil days in 2021)
2 BED / 2 BATH - 20 ( ↓ from 21 Days in 2021)
3 BED / 2 BATH - nil ( ↑/↓ from nil days in 2021)

NUMBER OF UNITS SOLD (YTD)

1 BED / 1 BATH - 16 Units
2 BED / 1 BATH - 1 Units
2 BED / 2 BATH - 26 Units
3 BED / 2 BATH - 0 Units

SOLD INVENTORY (YTD)

Real EstateKelowna Real EstateCondos for SaleThe VerveThe Verve KelownaVerve Kelowna

Kyle B. Janzen