Market awareness and stats

In the Okanagan last month sales hit record levels not seen since April 2007 .Year to date sale are up 42% in the north Okangan compared to the same period last year .The absorption rate in the Okanagan stayed above the 20% mark for the second straight month . The absorption rate is the percenatge of the total residential inventory that sells on a monthly basis .  That means that 20% of everything listed sold!  These absorption numbers are higher than we have seen since August 2007. If we maintain these sales volumes we will run out of homes for sale and as you know that means ....Higher prices . Prices are already starting to creep up as inventory decreases, In May 2013 the average sale was $302,305 Now in May 2014 it is $326,234.  The rental market  is as eqaully hot , there is very limited inventory in places to rent . buy now and rent........ its a great investment . I hope this helps you understand whats happening in todays market place. If you have any questions or thoughts please feel free to call " YOUR FAVOURITE MARTIAN "  
Blaine M Martian 250-309-0109

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Blaine Martian

Blaine Martian

Personal Real Estate Corporation
CENTURY 21 Executives Realty Ltd.
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