Residential real estate sales are up on a monthly basis in the South Okanagan in a trend that began in July following a sluggish start to the market in the first half of 2019.
(SHELBY THEVENOT / iNFOnews.ca)
November 12, 2019 - 4:15 PM
Residential home sales continued to rise in the South Okanagan last month.
The latest data from the South Okanagan Real Estate Board shows there were 150 residential units sold in the board’s catchment area in October compared to 131 during the same month in 2018. That’s up 14.5 per cent on a monthly basis following a rising trend that began in July after a sluggish end to 2018 and a slow start to 2019.
On a year to date basis, however, sales are still off by 142 units with 1,554 sold this year to date compared to 1,706 sold in 2018. That's down nine per cent over the same period a year ago.
Current listings are up with 1,269 listings in October compared to 1,253 last year, which is a 1.2 per cent increase. New listings are down from 272 in 2018 to 243 this year, which is a decline of 10.7 per cent.
The average price of a residential home in the South Okanagan was up 8.5 per cent in October to $481,193, compared to $439,831 in October 2018.
Year to date, prices are also up at $431,119 compared to $419,672 at the same time last year, which is an increase of 2.6 per cent.
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