May 10, 2016 - 10:30 AM
OKANAGAN - Sales of residential real estate in the Okanagan Mainline Real Estate Board sales region reached a record number for the month of April.
Demand is strong, the board says, and prices on the 1,069 sales were up 13.4 per cent from a year ago, at an average of nearly $460,000.
The board credits increased local sales plus relocations from the Lower Mainland and other parts of Canada as market drivers.
Activity differed within the board’s three zones, with both the north and central zones posting substantial gains in total residential sales, while the Shuswap-Revelstoke zone posted a decline.
In the central zone, covering Peachland to Lake Country and including Kelowna, total residential sales were up 39.9 per cent compared to April last year, with 743 units changing hands.
In the north zone, from Predator Ridge to Enderby and including Vernon, sales were up 28.6 per cent from a year ago, with 243 units sold.
In the Shuswap-Revelstoke zone, residential sales were down 1.2 per cent to 86 units sold.
Total sales of all property types were up in all three zones, the board says, and there is upward pressure on prices throughout the region.
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