Prices May Be Starting To Rise

 

September Absorption Rates indicating good things to come...

  

The absorption rate is the percentage of the total monthly residential inventory that sold in any particular month. This is the most important statistic to monitor when trying to figure out where the market is going. The reason is that it is a direct indication of supply and demand, which is what drives the prices up or down. When we look at the absorption rates for all 3 regions; the North Okanagan, the Central Okanagan and the Shuswap and we compare this past September to September of 2012 the absorption rates have risen 28.9%, 93% and 202% respectively. (that is not a typo!) This improvement has been building all year. When we look at the entire province of British Columbia sales are up 43% over sales in September of 2012. This positive pressure will further push the Okanagan Shuswap towards rising prices in the spring. 

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The Dent Team

The Dent Team

Sales Representative
CENTURY 21 Executives Realty Ltd.
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