The South Okanagan Real Estate Board saw an increase in real estate activity in July. (Contributed)

South Okanagan sees increase in real estate activity

More single family homes sold at higher prices when compared with a year ago

Sales of single family residential homes in the South Okanagan increased considerably in July compared with the same period a year ago.

According to the latest statistics from the South Okanagan Real Estate Board, there were 134 units sold in July, a 30 per cent increase from the 103 units sold in the July, 2019.

However, the number of active listings, at 1,870, is down from last July’s 2,119 active listings.

The average sale price for a single family home in July 2as $636,745, a six per cent increase from the average sale price of $598,972 in July, 2019.

READ ALSO: Struggling South Okanagan real estate market rebounds in June

READ ALSO: South Okanagan real estate sales drop dramatically in April

On average, it took 75 days for a single family house to sell.

“We are seeing an increase in sales likely influenced by consumers re-assessing their needs post- quarantine,” said Lyndi Cruickshank, president of the real estate board.

“Supply is yet to catch up to the demand as we work to support not only those looking to purchase but also people looking to safely place their homes on the market for sale.”

Prices varied around the South Okanagan and Similkameen.

In Kaleden and Okanagan Falls, where 10 homes were sold, the average selling price was $1,325,860.

Osoyoos saw 15 sales, with an average price of $738,003 and Summerland, with 18 sales, had an average price of $684,856.

In Penticton, there were 48 sales, with an average price of $547.090.

Princeton had the lowest average selling prices in the region. There were 15 sales, with an average selling price of $304,267 in that community.

“With many people making lifestyle and work changes, living in the Okanagan has become an even more attractive draw for many looking at moving from other communities,” Cruickshank said.

To report a typo, email:
news@summerlandreview.com
.



news@summerlandreview.com

Like us on Facebook and follow us on Twitter.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

‘Perfect storm’ causes influx of black widows in the Okanagan

The region’s only venomous spider has come out in full force this year

Stanley Cup within Vernon man’s reach

Dennis Holland has spent the past 18 years scouting for the Dallas Stars, seeking his first Cup ring

Spotlight on Syilx culture in new Vernon Winter Carnival project

Grant funds launch new project, provides skills training for Indigenous youth

Suspected human remains found in burned out vehicle on OKIB land

Vernon North Okanagan RCMP hand over investigation to Major Crimes

Fuel Good Day pumps up North Okanagan-Shuswap charities

Cheques for more than $2,500 handed over to three organizations in annual fundraiser

B.C. reports 96 new COVID-19 cases, one hospital outbreak

61 people in hospital as summer ends with election

B.C.’s top doctor says she’s received abuse, death threats during COVID-19 response

Henry has become a national figure during her time leading B.C.’s response to the COVID-19 pandemic

Kamloops RCMP search for armed robber of pizza restaurant

The incident unfolded on Monday evening at the Sahali Domino’s store

BC Liberals must change gears from election cynicism, focus on the issues: UBC professors

COVID-19 response and recovery is likely to dominate platforms

Trial underway for Kamloops man charged with kidnapping

Michael Mathieson is charged with armed robbery, unlawful confinement and kidnapping

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Kootnekoff: Employment standards variances in Alberta

Susan Kootnekoff is the founder of Inspire Law, her diverse legal career spans over 20 years

Dyer: Financing energy efficiency

Kristy Dyer has a background in art and physics and consulted for Silicon Valley

B.C. could be without a new leader for multiple weeks after Election Day: officials

More than 20K mail-in voting packages were requested within a day of B.C. election being called

Most Read