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North Okanagan real estate slows
Real estate activity got off to a slow start in 2013.
Overall in January, there were 50 property sales in the North Okanagan worth $13.4 million. That compares to 73 properties worth $24.6 million during the same month in 2012.
“Last year, the housing market remained fairly stable, with a good build-up in sales in many segments for most of the year and only losing strength during the closing two months,” said Rob Shaw, Okanagan Mainline Real Estate Board president.
“This slowdown carried over into January which is typically not a strong month, and can be partially attributed to the dreary winter weather that keeps people indoors.”
Total residential sales for the month were down 29.7 per cent over last year – from 64 at $21.7 million to 45 units valued at $12.1 million.
Single-family home sales declined 40.5 per cent to 22 units compared to 37 in January 2012.