Market review for February 2016.

Home Sales Climb Higher in the Okanagan

 

Board-wide (Peachland to Revelstoke):

 

Overall sales of all property types reported in OMREB’s board area during February 2016 climbed 26.5% to 645 units compared to the same month last year. The 1,372 new listings taken board-wide for the month were up 5.2% compared to February 2015, while total active listings declined 11.3% to 5,521 units over the same period.

 

Central Zone (Peachland to Lake Country):

 

Transactions of all property types in the Central Zone were up 18.2% to 448 units compared February

2015. Total residential sales for the month rose 19.7% to 414 units compared year ago levels. The sale of single family homes climbed 7.8% to 194 units over the same period. Average number of days to sell a single family home in the Central Okanagan in October was 66 days, down from 81 days in February 2015. The 742 new residential listings that were taken in the Central Okanagan during the month were down

4.8% from a year ago, while new single family listings were down 9.6% to 369 units over the same period.

 

North Zone (Predator Ridge to Enderby):

 

Overall property sales for February in the North Zone were up 62% to 141 units compared same month last year. Total residential sales were up 58.7% to 119 units, while single family home sales were up nearly

80% to 70 units compared to February 2015. Average number of days to sell a single family home in the North Okanagan was 110 days in February compared to 98 days the same month last year. A total of 244 new residential listings taken for the month was up 7% over the same month last year, while new single family listings were up 5.8% to 128 units over the same period.

 

Shuswap-Revelstoke Zone (Salmon Arm to Revelstoke):

 

Sales activity for all property types in the Shuswap-Revelstoke Zone last month climbed 27.3% to 56 units compared to February 2015. Total residential unit sales for the month were up 7.7% to 42 units compared to the same period. The sale of single family homes rose 12.2% to 27 units in February compared to the same month last year. The average number of days to sell a single family home in the Shuswap during February was at 138 compared to 101 days during the same month last year. There were 129 new residential listings taken in the zone last month, down 27.5% compared to the February 2015, while new single family listings were down 8% to 69 units over the same period.

Bill Hubbard

Bill Hubbard

Broker/Owner
CENTURY 21 Executives Realty Ltd.
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