Quail Ridge Kelowna Real Estate Report 2016

Welcome to our comprehensive Annual Report for the Quail Ridge and University Area Real Estate Market, for the Year of 2016. It’s been a much busier year for the area, and is definately a Sellers Market. Quail Ridge Sales Stats 2016 As with most areas…

Welcome to our comprehensive Annual Report for the Quail Ridge and University Area Real Estate Market, for the Year of 2016.

It’s been a much busier year for the area, and is definately a Sellers Market.

Quail Ridge Sales Stats 2016

As with most areas of the Real Estate Market in Kelowna, sales numbers have risen, number of days on the market have fallen and properties are selling closer to list price.

 

 

   
Sales Total S Fam Condo T Hm Lots
2013    48     28      12     5      3
2014 80 37 29 11 3
2015 84 24 49  9 2
2016 121 40 54 22 5
Average Days on Market
2013 108 127  75 167
2014      83     127     141    250
2015  77  99  89 219
2016  62  47  64    31
Closing Price to Original List
2013 94.6% 92.6% 96.5% 95.8%
2014 96.3% 95.8% 94.2% 98%
2015 96.8% 96.1% 94.6% 89.3%
2016  98.5% 97.2% 98.8% 95.7

 

  • Total Quail Ridge sales up 44%,.
  • Single Family Home sales up 66%
  • Condos up 10%
  • Town Home Sales up 144%.

 

From our prospective Single Family Homes sold much quicker in the last year, as Buyers realised that Quail Ridge represented good value.

In the Table below, you can see how average prices increased against last year.

 

New Project – Deerhurst Estates

  • 5 Town Home sales in the new project on Vint Road, in the University Village area.

 

Quail Ridge Condo Sales

  • Condos sold in half the time they had taken to sell in the previous year.
  • Market was busy from January with Buyers and Investors in the Quail Ridge and Acadamy Way.
  • Enquiries busy so far this January.
  • Inventory numbers are very low.
  • 2 Bedroom and Den units are in very short supply!

Detailed Market Analysis of Quail Ridge & University Area Condos

Trish&Tanis_Logo_WEB_IconOnly Total Sales Days on Market Ave Price per Sq Ft Median Sale Price
3168 / 3178 Via Centrale 10 28 $268 $305,000
 1873 / 1875 Country Club  24 39 $274 $306,000
1795 Country Club Dr  10  88 $243 $337,900
Academy Hill/ U One / U Two/ U Three 13 67 $399 $349,900

These numbers relate only to MLS® Listings only and do not include For Sale By Owner and Exclusive Sales..

Notes regarding the above numbers.

The Pointe at Quail – 3168 / 3178 Via Centrale.

Built 2004 /2005. Rentals Minimum Monthly.

  • During the year prices rose steadily and having started the year selling at $252 per sq ft, by October, they had risen typically 16% to $294 per sq ft.
  • Buyers should now expect to be paying $300 per sq ft and higher for Golf Course View units.
  • Still great value, when you consider that prices in complexes such as the Verve in Yates Rd, Glenmore area selling consistently over $300 per sq ft at the moment.

Summary of 2016 Sales.

  • Selling Prices between $255,000 and $370,000.
  • 966 to 1399 Square Feet.
  • $218 to $294 per Square Foot.
  • 15 to 49 Days on Market

Pinnacle Pointe – 1873 / 1875 Country Club Drive.

Built 2008. Short & Long Term Rentals Allowed. 

  • Sales were busy increased from 14 in 2015 to 24 in 2016.
  • 2 Bedroom and Den units were highly sort after.

Summary of 2016 Sales.

  • Selling Price between $168,000 and $337,500
  • 624 to 1334 Square Feet
  • $241 to $320 per Square Foot 11 to 292 Days on Market

Bella Sera 1795 Country Club Drive.

Built 2005. Rentals Minimum Monthly. Summary of Sales 2016.

  • Selling Price between $295,000 and $355,000
  • 1323 to 1381 Square Feet
  • $216 to $265 per Square Foot
  • 13 to 297 Days on Market
  • Prices improved from a low of $295,000 in March to $355,000 in August – a rise of 20.3%.

Academy Hill, U One ,U Two & U Three

Built 2013-2017. Short & Long Term Rentals Allowed.

  • Only a limited number were sold on the MLS® System as U Two & U Three were still being Built.

Summary of 2016 Sales.

  • Selling Price between $189,900 and $439,900.
  • 507  to 1129 Square Feet
  • $352 to $440 per Square Foot
  • 16 to 191 Days on Market.

 

We hope you found this Market Report helpful?

If you are think of Buying or Selling a Home in the Quail Ridge or University Area, please Call or Email, and let us put our combined 20 years of experience into helping you complete a sucessful move!

Kind Regards

Trish Cenci & Tanis Read

Trish and Tanis Real Estate Group

Tel 250 863 8989

 



Source: |

Trish & Tanis
trishandtanis@gmail.com
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