Property sales have increased in the North Okanagan

Property sales have increased in the North Okanagan

Real estate sales climb in the North Okanagan

A total of 172 units were sold in November, a 7.5 per cent increase from last year

Real estate activity remains strong in the North Okanagan.

A total of 172 units were sold in November, a 7.5 per cent increase from the 160 units sold during the same month in 2015. Sales volume went from $156.5 million to $202.5 million.

Year-to-date, there have been 6,971 units sold in the North Okanagan, a 27.9 per cent increase from the 5,449 units sold during the first 11 months of 2015.

“While sales over the past several months have consistently been ahead of the same timeframe last year, we are experiencing a gradual return to more historically normal levels after a particularly lively first part of the year,” said Anthony Bastiaanssen, Okanagan Mainline Real Estate Board president.

According to an October survey, the majority of recent buyers of residential property in the region was individuals from within the Okanagan, at 60.7 per cent up from 52.3 per cent in September.

“Year over year, the vast majority of buyers of property here continues to be folks who already live here,” said Bastiaanssen.

Buyers from the Lower Mainland accounted for 13.r per cent of sales, while those from Alberta were at 11.6 per cent.