Residential sales in the Okanagan continue to be brisk.
Sales of 1,263 units were posted to the Multiple Listing Service in June, up 38 per cent from June of last year from the North Shuswap to Peachland, and including the North Okanagan.
“While days to sell rose slightly in June to 81 days from 77 in May, consumers looking to buy are still likely to feel pressure to respond quickly and decisively to listings,” said Anthony Bastiaanssen, Okanagan Mainline Real Estate Board president.
The average MLS residential price in June was $475,091, slightly down from $486,636 in May and representing a 16 per cent increase over the same month last year.
In all regions served by OMREB, active listings dropped 21.3 per cent compared to this time last year.
“We are seeing more buyers looking to regions outside the core in order to find homes in line with their budget,” said Bastiaanssen.
“Average residential pricing that is slightly down from May could be an indication of this, reflecting a higher proportion of lower-priced sales in the make-up of product sold in this time period.”