News

Local real estate sales on the rise

There’s been some upward movement in the North Okanagan’s real estate sector.

There were 125 overall sales in March, a 6.9 per cent increase compared to 117 in 2011 and a 42 per cent increase from  88 sales in February.

“Home  sales were steady during March with some fluctuations depending on the community and the housing type,” said Rob Shaw, Okanagan Mainline Real Estate Board president.

“Continuing to trend on long-term averages, the modest rise in unit sales reflects the gradual growth in the economy and points toward a brighter seasonal market ahead.”

Total residential sales for March was 114 units, an 11.8 per cent increase compared to 102 sales in March 2011 and a 54.1 per cent hike from 74 units in February.

Single-family home sales (66) for the month were up 29.4 per cent compared to the units sold in March 2011 (51) and they improved by 57.2 per cent compared to unit sales this February (42).

 

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