Okanagan Shuswap Homes for sale are getting more expensive....Thanks Alberta

Houses for sale in the Okanagan, Shuswap are getting more expensive, there are less houses to look at and they are selling faster. The best way to figure out what is actually going on is to look at running averages. That means that we look at the most recent 12 month average of any given statistic and compare it to the preceding 12 month period. When we look at the Okanagan, Shuswap together, the average median sale price in the last 12 months is up about 4% compared to the previous 12 months. The average number of monthly transactions is up about 20%. The inventory is down 14% and the absorption is up about 15%. It is an understatement to say we are in recovery. But where are these buyers coming from? In the last year there has been a significant increase in buyers from Alberta. Most of us noticed the increase in orange and white licensed plates this summer. In fact the percentage of buyers from Alberta is up about 6% in the last year. That is significant because the percentage from all other buyers has to be down 6% in comparison. Our neighbours to the west are booming and they are looking to warmer climates. We are happy to oblige.