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What's the North Okanagan Real Estate Market Doing?

After a slower spring start, the residential market is picking up steam. There is more balance in the North Okanagan Real Estate market in the upper end in homes priced $400,000 and above. There is still a shortage of listing inventory between $250,000 and $350,000.

Prices are holding steady at this point. Compared to last year at this time, average sales prices have increased approximately 25%. No one can say for sure how long this trend will continue; however, we don't expect this rate of increase to continue indefinitely.

Now, more than ever, this type of real estate market calls for careful analysis by experienced Realtors when you are buying or selling. Understanding the market and advising you accordingly are what we do best. We not only study local trends, but also keep abreast of trend setting markets such as Vancouver and Victoria, as well as analyze national and international economic factors.

Call us at any time with your real estate questions. We are happy to help in whatever way we can.