South Okanagan Quick Market Update

Hi, it's Jeff here with the South Okanagan Home Team bringing to you your quick market update for the South Okanagan Residential Real Estate Market Sector. 

 

We are just ending off the month of May and as far as the month of May compared to last year there are 1500 listings on the market. That's up 57.6 percent as compared to last year same time.

You will see a lot more for sale signs out there on the street, more competition for Sellers  and a lot more inventory and choice for Buyers.

As far as the benchmark price, we are seeing prices are remaining flat. 0.1 % over last year same time for a single family home here is the South Okanagan and that's at $783,500

As far as days to sell. We are looking at an average of 62 days to sell, approximately 2 months. In some areas as you move farther South different, neighbourhoods, different areas you will find that will go up to about 120 days,  about 4 months. It really depends on the neighbourhood and housing type.

As far as units sold, 191 units sold in the South Okanagan in residential. That is down 2.6% from same time last year same time.

Thanks for watching, that's your quick South Okanagan Market Update.