The Okanagan Mainline Real Estate Board (OMREB) reported May 2013 sales activity of all MLS® property types continued to improve with modest increases over the same month last year.
"We expected an uptrend in May which is typical of the housing resale market as buyers and sellers take advantage of the warmer weather and spring market activity."
"Units being listed continue to decline. Sellers have recognized that their properties must be priced within the current market conditions in order to obtain a successful sale. A Seller who really does not need to sell is less likely to put their home on the market," says Karen Singbeil, an active REALTOR® in the Shuswap Zone and OMREB President. "It is evident that some price ranges are moving more quickly than others and that well priced properties attract attention and will sell."
Due to the divergence in OMREB’s three market areas, sales activity tends to vary among property types zone by zone, Singbeil notes. "While the Central Okanagan experienced a more marked uptick in May, both the North Okanagan and Shuswap remained relatively flat in sales, posting modest gains."