Okanagan Shuswap Real Estate Market update

The market is cruising along as we expected. When we compare the first 5 months of this year with the same period last year, residential sales in the Shuswap and the North Okanagan are steady and prices are actually slightly up in both the Shuswap and the North Okanagan . The Central Okanagan is a little different. Sales are down about 15% and their prices are down about 3%. However, the Central Okanagan was much more robust in in 2015 and 2016 than the other 2 zones so they had more room to cool down to reach a balanced market. Overall the Okanagan Shuswap is remaining a relatively strong, balanced market fueled by increased migration from Alberta and the coast. We are slowly starting to see small indications of recovery in Vancouver, Alberta and Toronto which should influence the rest of the country positively. However, it will be a while before those markets see any significant recovery. The overall read for the Okanagan Shuswap so far is steady and flat. 

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