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Hot real estate market continues on short supply in Central and North Okanagan

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August 03, 2016 - 6:30 PM

OKANAGAN - The weather’s been a bit cool but the hot real estate market in the Central and North Okanagan continues.

Okanagan Mainline Real Estate Board statistics show a slight moderation of residential sales in July from June but are still up 20 per cent over July last year.

Board president Anthony Bastiaanssen says in a media release conditions “are still very much favouring the seller” across its entire sales region which runs from Peachland to Revelstoke.

Active listings are down 22.8 per cent from a year ago, a sign of the meagre supply of listings.

Board data from a June survey shows 56 per cent of buyers in the local real estate market are from within the Okanagan with another 18 per cent from the Lower Mainland and Vancouver Island and and a further 12 per cent from Alberta.

Sales in June were up 40 per cent from a year earlier.


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News from © InfoTel News Ltd, 2016
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