OKANAGAN REAL ESTATE MARKET UPDATE


The Real Estate Market is settling down for a "Short" winter's nap...

The Okanagan Shuswap has hit the holidays. Sales in November are down substantially from September and October in all three zones. However, this is not unusual for this time of year. We have had a good year. Year over year residential sales volumes are up 20 % compared to 2013. Prices are up 3 to 5%. In general, the fall market was stronger than expected which accounts for a slightly early slowdown in November. The housing market in the Okanagan Shuswap areas will continue to slow and stay slow until February when the annual cycle shifts into high gear again. By analyzing the graphs and charts for inventory, absorption and days to sell, we can see that the market in 2015 will be slightly better than 2014. As demand increases the supply will decrease which will make it a little tougher for buyers to find the right home. Also in 2015 as prices rise the market will continue to slowly move from a buyer's market to a seller's market.

Click here to see the rest of the statistics for the Shuswap Okanagan.

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HAVE A SAFE AND HAPPY HOLIDAY!




Nancy Venditello

Nancy Venditello

Sales Representative
CENTURY 21 Executives Realty Ltd.
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