July 2014 Market Update

The 12 month running average for median prices ending in July 2014 compared to the previous 12 month period in the Shuswap, the Central Okanagan and the North Okanagan is up about 4%, 5% and 7% consecutively. That trend is likely to continue. The factors that push the local Real Estate market continue to show upward pressure. The Bank of Canada has conceded that low is the new norm for interest rates. Housing starts are up locally and throughout Western Canada. Prices for July are up in 9 out of the 11 Real Estate boards in BC. Alberta is continuing to rise in prices and activity. Further proof that it is a great time to buy in the Okanagan/Shuswap!

Dave Strle

Dave Strle

Associate Broker
CENTURY 21 Executives Realty Ltd.
Contact Me