Real estate sales drop

  • May. 8, 2011 8:00 p.m.

North Okanagan real estate activity struggled during April.

There were 88 total sales last month, down 25.86 per cent compared to the 116 units sold in March and down 54.26 per cent from the 188 sales in April 2010.

Year-over-year sales volumes went from $63.3 to $30.3 million.

Total residential sales for April dipped by 53.4 per cent to 80 compared to 172 in April 2010.

“Compared to the rebound seen during the winter months of 2011 before tighter credit and slower than expected economic recovery affected consumer confidence and saw buyers sitting on the sidelines, last month’s sales were temperate,” said Darcy Griffiths, with the Okanagan Mainline Real Estate Board.

Last month’s inventory dropped 2.35 per cent compared to April 2010 (2,489 from 2,549).

New listings dropped 11.86 per cent over the same month in 2010 (483 from 548).

OMREB’s North Okanagan zone includes Vernon, Coldstream, Lumby, Cherryville, Silver Star, Oyama, Spallumcheen, Armstrong and Enderby.