Real estate activity begins to increase in the North Okanagan

Eighty-eight sales reported in February and sales volumes climb

  • Mar. 6, 2012 4:00 p.m.

There are some positive trends within the North Okanagan’s  real estate sector.

In February, there were 88 overall sales, a 7.4 per cent decrease from 95 sales during the same month in 2011 but they were up 20.6 per cent from January’s 73 sales.

Sales volumes for the month rose to $31.7 million from $25.1 million in 2011.

“February home sales remained strong in the Okanagan-Shuswap and on par with the 10 to 15 year average for unit sales,” said Rob Shaw, Okanagan Mainline Real Estate Board vice-president.

“The trend in modest rising sales over the past few months is in line with the gradual growth in the economy and indicates market improvement.

Total North Okanagan residential sales for February (74 units) were down 9.8 per cent compared to last year (82), but they up 15.6 per cent over January (64).

There were 42 single-family home sales in February, up 10.5 per cent compared to the 38 units sold in February 2011 and up 13.5 per cent compared to the 37 units in January.


Vernon Morning Star