Residential sales down

There were 173 overall property sales in the region in September, down seven per cent from 186 sales

Real estate activity has slowed throughout the North Okanagan.

There were 173 overall property sales in the region in September, down seven per cent from 186 sales during the same month in 2014.

Total residential sales were down 7.2 per cent this past month to 155 units compared to 167 in 2014, while single-family home sales dropped 8.7 per cent from 92 to 84.

The average days to sell a single-family home in the North Okanagan in September was 76 compared to 92 last year.

The 281 new listings taken for September saw an 8.2 per cent decline over the 2014 level of 306.  Inventory for September dipped 0.4 per cent to 2,142 from 2,151 in 2014.

“The inventory of homes for sale remains at low levels with essentially no significant upward momentum over the past few months,” said Christopher Miller, Okanagan Mainline Real Estate Board president.

Year-to-date, overall sales activity decreased 5.5 per cent from 1,592 units to 1,505.