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Home sales on the rise
September was a strong month for real estate activity in the North Okanagan.
There were 151 overall sales last month, a 20.8 per cent increase over 125 sales in September 2012.
Total residential sales reached 132 units, up 16.8 per cent from 113 units during the same month in 2012.
“Rising home sales combined with a downward trend in active listings have improved overall housing market conditions,” said Karen Singbeil, Okanagan Mainline Real Estate Board president.
“However, we remain firmly in buyers’ market territory.”
September inventory in the North Okanagan saw a seven per cent decline to 2,325 units from 2,501 in 2012.
“Current conditions suggest stable to modest downward pressure on home prices,” said Singbeil.