News

Real estate sales face fluctuations locally

Some challenges continue within the North Okanagan’s real estate sector.

Overall sales for August were up by 4.55 per cent compared to 2010 (from 110 units to 115), with sales volumes at $37.2 million compared to $34.1 million last year.  However, sales slipped 9.44 per cent from the 127 units sold during July.

Total residential sales for August dipped by 2.94 per cent compared to last year (from 102 to 99), and single-family sales fell 17.86 per cent over 2010 (56 units to 46).

“The summer in the North Okanagan finished with a steady improvement in home sales and stable home prices,” said Darcy Griffiths, a local realtor and member of the Okanagan Mainline Real Estate Board.

“Most market segments continue to move along and hold their own in the Okanagan-Shuswap, while the recreation and investment segments are still sluggish – being most affected by attractive U.S. opportunities and a slower than expected recovery in Canada.”

Griffiths admits concerns over debt load and employment have cooled consumer confidence and that could result in apprehension about making big purchases.

“However, we’re hopeful the B.C. government will reveal its HST transition plan quickly to alleviate some market uncertainty,” said Griffiths.

 

 

 

 

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Mayes recounts shootout on Parliament Hill
 
Foundation launches $3 million fundraising campaign
 
Let’s do the time warp again
Railway future still uncertain
 
VIDEO: Witnesses describe scene at Parliament Hill; Raw footage of Ottawa shootings
 
UPDATE: B.C. legislature to get security scanner
Tony Stewart will not face charges in deadly crash
 
Resource issues dominate Terrace all candidates meeting
 
Velma McKay and Vicky Dalton are Women of the Year

Community Events, October 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Oct 24 edition online now. Browse the archives.