Kelowna, BC – The Okanagan Mainline Real Estate Board (OMREB) reported July sales activity of all MLS® property types was up 30% compared to the same month in 2013 – posting the strongest unit sales for July on record since 1980. “Month-over-month, the Okanagan-Shuswap housing market continues to remain strong as we make steady strides toward recovery,” says Darcy Griffiths, OMREB President and active REALTOR® in the North Okanagan. “Renewed consumer confidence has boosted demand as buyers return to mid and higher end homes, and sellers who had given up are trying again with more success.”
Central Zone (Peachland to Lake Country): During July, overall sales in the Central Zone were up 24.0% — to 584 units from 471 in 2013. Total residential sales for the month improved 25.7% to 543 units compared to 432 last year at this time. The sale of single family homes was up 26.2% over July 2013 (to 279 from 221).
The 937 new listings taken in the Central Okanagan during the month saw a 2.4% rise compared to 915 in 2013, and total inventory was reduced by 13.9% to 3.969 units from 4,611 last July.
In summary, there are almost 26% more homes selling this year and more NEW listings but overall the inventory is almost 14% less than last year. It is always wise to consult a professional REALTOR(R) when seeking information on home statistics – we live in an ever-changing marketplace so it is very important to keep up to date. If you have any questions please do not hesitate to contact me at 778-214-1773.
Talk to you soon,