Property sales decrease in January across the North Okanagan

Real estate board reports that transactions dropped eight per cent compared to 2011

  • Feb. 8, 2012 6:00 p.m.

Real estate activity got off to a slow start in the North Okanagan.

In January, there were 73 properties sold for $24.6 million, an eight per cent decrease from 80 properties for $28.3 million during the same month in 2011. They were down 5.2 per cent from 77 units in December.

“Province-wide, unit sales are trending at a 15-year average and house prices are staying relatively flat,” said Rob Shaw, with the Okanagan Mainline Real Estate Board.

The North Okanagan’s total residential sales for January dipped by three per cent to 64 units compared to 66 last year, and declined 5.9 per cent from the 68 sold in December.

There were 37 single-family home sales in January, down 2.6 per cent compared to the 38 units sold in January 2011. They were up by 5.7 per  cent compared to the 35 units sold in December.