Okanagan Shuswap Housing Market Update
December statistics were no different than the rest of the year. Even though the North Okanagan had a bit of a dip in sales in December compared to the Central Okanagan and the Shuswap, overall 2014 was a year of decisive recovery. When we compare December 2014 sales to December 2013 sales the Central Okanagan was up 21%, the Shuswap was up 28% and the North Okanagan was down 7.6%. However, as we have stated many times one month does not make a market. Year over year all three zones were up substantially in activity and prices. The North Okanagan was up 33%, the Central Okanagan up 17%, and the Shuswap up 10%. Median prices rose in 2014 but not nearly as much as activity. With the inventory continuing to stay low we should expect increased pressure on pricing as we go through 2015.