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Real estate sales slow in November
Challenges continue within the North Okanagan’s real estate market.
Overall unit sales and sales volumes for November fell 12.0 per cent to 95 units ($31.6 million), compared to 108 ($37.3 million) in 2010. They slipped five per cent from the 100 units sold in October.
Total residential sales for November dropped 14.6 per cent to 82 units compared to 96 last year, while they dropped 8.9 per cent from the 90 units sold in October. Single-family sales (47) were comparable to the units sold in November 2010 (48), but they were down 7.8 per cent compared to unit sales in October (51).
“With historically low interest rates continuing to positively impact purchasing power and homes that buyers can afford, now is a good time to buy while there is still an ample supply and good selection of properties available in our market,” said Rob Shaw, Okanagan Mainline Real Estate Board president.