News

Real estate sales dip in June

Real estate activity remains a challenge in the North Okanagan.

There were 131 overall property sales in June, a five per cent decrease compared to 138 during the same month in 2010. Sales volumes went from $48.9 to $43.2 million.

However, sales improved 6.5 per cent over the 123 units sold during May.

Total residential sales for June rose by 8.11 per cent to 120 compared to 111 in June 2010, while single-family sales jumped 37.74 per cent  over last year to 73 units from 53.

“The slight rebound and gradual improvement in June is promising,” said Rob Shaw, Okanagan Mainline Real Estate Board vice-president.

“We hope to continue to see modest gains in sales if activity picks up with the warm weather and an influx of out-of-town buyers.”

Shaw says it’s  too soon to tell if there will be a slow down over the summer.

“July will be a good indicator as to an ongoing trend,” he said.

“Although inventory is on the decline, serious buyers enjoy an excellent selection of homes in the North Okanagan, and are taking advantage of good prices and wide choices while they are still available.”

 

 

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