February real estate sales climb in the North Okanagan

Overall sales rose 15.8 per cent to 88 units in the North Okanagan compared to 76 units during the same month

Real estate sales climbed in the North Okanagan in February.

Overall sales rose 15.8 per cent to 88 units in the North Okanagan compared to 76 units during the same month in 2014, while total residential sales climbed 13.4 per cent from 67 to 76.

Single-family home sales (39 units) improved by 18.2 per cent compared to February 2014 (33).

“After a more than usual slowdown in January, Okanagan-Shuswap home sales rallied along with consumer confidence during February despite weaker economic conditions in Alberta,” said Darcy Griffiths, Okanagan Mainline Real Estate Board president.

“While not at the record pace seen at the close of 2014, the year has started off at a much stronger level than we saw during the first six months last year. However, days on market in our board area is now at 95 days on average compared to 141 last year at this time.”

The 301 new listings recorded during February in the North Okanagan were up 9.5 per cent from the 2014 level of 275.

Inventory for February saw a 5.2 per cent dip to 1,767 from 1,863 in February of 2014.

 

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