Okanagan Shuswap Real Estate Market Softening Slightly for the Summer Months

In most typical Real Estate years the summer months are a little slower than the 2 or 3 months preceding them. The reason is that looking for a home requirres focus and the kids are out of school and so the focus of mom and dad is now more on holidays and kids' functions. The statistics for July illustrate this in that the sales and the absorption rates have softened a bit. When we compare these stats with last July's statistics we can still see that the market is improving year over year. August will soften a little more and we will likely see a resugence of activity in the September stats as the kids go back to school and the focus on making the move returns to mom and dad. 

North Okanagan Residential Stats       YTD Residential Sales
  July, 2013 June, 2013 May, 2013 July,2012 2012 2013 % change
Sales 73 95 86 76      
Inventory 728 702 726 798      
Absorption 10.03% 13.53% 11.85% 9.52%      
Median Price $345,000 $352,000 $326,000 $339,000 469 440 -6.18%
               
Central Okanagan Residential Stats            
  July, 2013 June, 2013 May, 2013 July,2012      
Sales 221 254 261 210      
Inventory 1537 1578 1594 1696      
Absorption 14.38% 16.10% 16.37% 12.38%      
Median Price $422,500 $438,000 $410,000 $428,950 1,196 1327 10.95%
               
Shuswap  Residential Stats            
  July, 2013 June, 2013 May, 2013 July,2012      
Sales 42 40 42 27      
Inventory 502 489 471 515      
Absorption 8.37% 8.18% 8.92% 5.24%      
Median Price $280,000 $303,500 $306,000 $285,000 189 225 19.05%
          1854 1992 7.44%

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Bill Hubbard

Bill Hubbard

Broker/Owner
CENTURY 21 Executives Realty Ltd.
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