North Okanagan Real Estate Market Update December 2018
“Looking to 2019, we can expect that the market will continue to moderate, as compared to recent years, with all signs pointing to more balanced conditions where buyers and sellers are benefitted more equally. Demand is dampening as a result of government policies that erode affordability and purchasing power, yet these effects are continuing to be offset by relatively strong economic performance”
Marv Beer OMREB President
North Okanagan Stats
Units Listed= 121
Units Sold =111
Days to Sell = 116
Average Prices Sold:
Condo = $22,875
Townhouse = $348,484
Lots =$404,889
Single Family = $477,904
Read Full OMREB Media Release here
May Home Sales Volumes in Sharp Contrast to Recent Years
"New listings were 1764, up 16% over April and 7% over this time last year. Average price, typically the last indicator to normalize, was $532,972, just 1% over April and 4% over this time last year."
- Marv Beer OMREB President
April 2018 North Okanagan and Shuswap Real Estate Update
Residential sales for the region of Peachland to Revelstoke tallied 746, 19% more than March, but 9% down from this time last year, reports the Okanagan Mainline Real Estate Board (OMREB).
“Markets are cyclical and what we hope for are smaller peaks and valleys, but it’s difficult to know if that’s what we will get, given the volume of tinkering occurring in the form of Federal mortgage tightening rules and higher interest rates and now a proposed Provincial speculation tax.” - OMREB President Marv Beer
In the North Okanagan there were 391 units listed and 190 units sold in April. The average prices of properties SOLD were as follows: Condo = $197,911 Townhouse = $322,840 Lots = $196,450 Residential = $510,372
In the Shuswap areas there were 298 units listed and 117 units sold in April. The average prices of properties SOLS were as follows: Condo = $322,400 Townhouse = $319,057 Lots = $127,531 Residential = $430,918
Need help navigating the market in the North Okanagan or Shuswap? Contact us today at 250-260-4711 for dedicated, professional, award winning service!
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