More Okanagan Shuswap Homes are selling for more money...

More Okanagan Shuswap Homes are selling for more money...

 

The Real Estate market in the Okanagan Shuswap is shifting to a seller's market. After 2 quarters of 2014 home sales in the Okanagan Shuswap are showing a steady climb. Prices are up anywhere from 3 to 5%. Sales activity is up. Inventory is down and the absorption is up across the board. Generally when absorption passes 12 to 14% it is assumed that the market has shifted from a buyer's market to a seller's market. Both the North Okanagan and the Central Okanagan have passed this rate and the Shuswap is fast approaching it. We may see a slight slowdown in July and August which is typical for any year because children are out of school and parents may put their move on hold until September. But for now all our year to date stats say the market is rising and will continue to rise for the near future. 

North Okanagan Residential Stats

 

YTD Residential Sales

 

June, 2014

May, 2014

April, 2014

June, 2013

 

2013

2014

% change

Sales

122

134

88

95

       

Inventory

630

637

634

702

       

Absorption

19.37%

21.04%

13.88%

13.53%

       

Median Price

$369,950

$350,250

$331,000

$352,000

 

367

510

38.96%

Russell Armstrong

Russell Armstrong

REALTORĀ®
CENTURY 21 Executives Realty Ltd.
Contact Me

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