Hot real estate market continues on short supply in Central and North Okanagan | iNFOnews | Thompson-Okanagan's News Source

Current Conditions

Mainly Sunny

Kelowna News

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

Image Credit: Shutterstock
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.

To contact a reporter for this story, email John McDonald or call 250-808-0143 or email the editor. You can also submit photos, videos or news tips to the newsroom and be entered to win a monthly prize draw.

We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above. 


News from © iNFOnews, 2016

  • Popular penticton News
View Site in: Desktop | Mobile