Property sales slow

There were 164 properties sold in the North Okanagan in August

Real estate activity slowed in the summer.

There were 164 properties sold in the North Okanagan in August, down 21.2 per cent from 208 units during the same month in 2014. Year-to-date,  sales activity dropped 5.3 per cent from 1,406 to 1,332.

Total residential sales were down 22.1 per cent in August to 148 units compared to 190 in 2014, and they dipped by 4.4 per cent year-to-date (to 1,204 from 1,260).

Single-family home sales saw a 19.1 per cent drop over last August (from 110 to 89) and slipped 8.9 per cent year-to-date (from 731 to 666).

Okanagan Mainline Real Estate Board is confident about the remainder of the year.

“Bolstered by high consumer confidence as local employment and economic conditions improve, demand for homes in the Okanagan-Shuswap is strong and keeping pace with other markets in B.C.,” said Christopher Miller, OMREB president.

 

Vernon Morning Star

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