Real estate sales slow

Sales drop slightly, prices expected to flatten for remainder of the year

  • Mar. 8, 2013 10:00 a.m.

Real estate activity remains slow in the North Okanagan.

Overall, there were 80 units sold in February, down 10.1 per cent from 89 during the same month in 2012.

Total residential sales dipped four per cent, from 75 to 72 units. There were 40 single-family home sales, a 4.8 per cent decrease from 42 last year.

“We remain cautiously optimistic that the second quarter of 2013 will see an improvement after the much‐anticipated transition back to PST/GST is complete,” said Rob Shaw, Okanagan Mainline Real Estate Board past-president.

“Price changes are most likely behind us and are projected to flatten for balance of year. Once it is understood that further price drops are not on the horizon, serious buyers will be encouraged to jump off the fence and make a lifestyle move.”