OK/Shuswap Housing Prices

 

 

As release by my broker Bill Hubbard:

Okanagan Shuswap prices starting to creep up.

This is a risky thing to say. Prices are the last statistic to change. It is very difficult to determine what is actually happening with prices because it is so easy to make them say whatever you want and there are so many people seemingly qualified to quote market statistics that really don't understand the mechanics of Real Estate prices. Overall average price is not a reliable statistic to use to try and decide what is happening to prices. It is inaccurate to say that prices are rising or falling in a certain town or city. Yesterday, a person of authority in the Okanagan Shuswap market was quoted saying that "prices were surging upward in the Okanagan". That is just not true.  For instance, right now some lower price ranges and in some neighbourhoods are starting to rise slightly but higher price ranges have just stabilized or are still dropping slightly. Therefore, overall average price in any given marketplace cannot accurately predict what is happening. I have found that using an HPI (Home Price Index) works best. This HPI considers all the sales of a typical house in a certain area and compares them to the same type of houses sold in the previous year. We find when we do an HPI that house prices are doing different things in different areas and in different price ranges. I would be happy to do an HPI evaluation on any property you have. Simply give me a call or email. 250 833-5372 or cosensteam@telus.net

 

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Annette Cosens

Annette Cosens

REALTORĀ®
CENTURY 21 Executives Realty Ltd.
Contact Me