Kelowna News

Housing sales and prices jumped in September for Central and North Okanagan

Image Credit: istockphoto.com

There was a 78 per cent increase in the number of homes sold in the Okanagan Mainline Real Estate Board region in September versus the same month in 2019.

The 1,159 sales were also 12 per cent higher than August’s sales according to an Oct. 2 news release from the board.

“Unusual market activity seems to be the theme this year, although not surprising considering there is nothing normal about 2020,” board President Kim Heizmann said in the release. “The pandemic has definitely made people look at things differently. We are seeing higher demand likely due to post-quarantine lifestyle changes.”

The biggest sales jump was for single-family homes in the North Okanagan with a 101 per cent increase with 163 units sold. The Central Okanagan was up 83.5 per cent to 356.

Other big jumps included a 79.4 per cent increase in townhouse sales in the Central Okanagan to 122, a 93.2 per cent increase in Central Okanagan condo sales to 170 and an 83.3 per cent increase in condo sales in Shuswap/Revelstoke to 11.

The benchmark price for all housing types also went up but most dramatically for typical single family houses.

The biggest price jump was in the North Okanagan with a seven per cent increase to $517,800. The Central Okanagan went up 6.3 per cent to $710,700 while the Shuswap/Revelstoke area was up 6.2 per cent to $470,200.

Prices for townhouses and condos increased by less than three per cent in each region except for condos in the Central Okanagan that went up 3.6 per cent to $385,400.

The region stretches from Peachland to Revelstoke.


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