(August 17, 2015 )

The Okanagan Mainline Real Estate Board (OMREB) reported sales activity of all MLS® property types in July 2015 as the second strongest July on record for residential sales since 1981. Bucking the national trend, the British Columbia economy is growing and constantly improving. Low interest rates and ongoing job growth continue to support rising consumer confidence and home purchases in most markets in the province.

A few notable single family residential stats for the Central Okanagan from July 2015:  
- 428 new listings 
- 282 sold listings 
- 64 average days to sell  
- $525,845 average single family residential price (up over $20,000 from last month)

“OMREB’s June 2015 Buyers’ Survey results show that 45% of buyers were empty nesters, retirees or couples without children who are moving up or downsizing,” Christopher Miller, OMREB President, reports. “It is interesting to note that a consistent 18% of buyers were coming from Alberta, while 55% were from within our Board area, 10% moved from the Lower Mainland and Vancouver Island, and 9% from other areas of the province.”.

Whether you are selling or buying a home, having a professional REALTOR® who is familiar with the area and your particular neighbourhood is key – unlock the door to your next Kelowna or West Kelowna home with Grant Waidman today. Make sure to contact the Grant Waidman Group  to learn how we can  help save you time and money!

*All statistics are based on Central Okanagan Residential listings as published by OMREB.