Real estate sales climb in North Okanagan

Overall 2014 sales improved by 28.1 per cent per cent over 2013 (to 1,992 units from 1,555).

Real estate activity was strong last year in the North Okanagan.

Overall 2014 sales improved by 28.1 per cent per cent over 2013 (to 1,992 units from 1,555).

Single family home sales were up 30.3 per cent to 1,019 units from 782, while the sale of townhouses rose by 15.8 per cent to 256 from 221. Apartments climbed by 31.9 per cent from 97 to 128 compared to the previous year.

“Despite a slow start to 2014, sales began to bounce back in March and the steady upward trend accelerated into an extraordinarily busy and fast-paced summer and fall,” said Darcy Griffiths, Okanagan Mainline Real Estate Board president and a Vernon realtor.

In December, there were 114 properties sold in the North Okanagan, up 17.5 per cent from 97 units during the same month in 2013.

Total residential sales for the month were up 14.3 per cent over last year, with 96 units sold compared to 84.

There were 48 single-family home sales, a 7.7 per cent decrease compared to 52 in December 2013, according to the real estate board

“The conditions in our board area were at the cusp between a balanced and seller’s market in December,” said Griffiths.

 

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