Real estate sales slow

  • Mon Aug 7th, 2017 3:29pm
  • News

Real estate activity has slowed slightly in the North Okanagan.

In July, there were 254 property sales compared to 304 in June and 275 in July 2016.

“While sales activity typically slows over the summer months, with this July no exception, pricing and days on market continue to show strong demand for available housing supply,” said Tanis Read, Okanagan Mainline Real Estate Board president.

For residential sales, the average number of days to sell was 49 in July while the average price was $514,031.

“Although these figures offer a general overview of market conditions, averages tell only part of the story and prospective buyers and sellers can benefit from consulting a real estate professional about how current conditions impact the neighbourhood or housing type of interest,” said Read.