The Okanagan Mainline Real Estate Board (OMREB) reports residential sales in April totaled 821 across the region which is down by 23% over this time last year – so why the decrease in sales compared to 2016?
Grant Waidman, Kelowna REALTOR®, states this is likely due to the lack of listings and increasing prices. New listings for detached homes in the Central Okanagan for April 2017 vs April 2016 decreased by 15% while the average price in this same category increased by 18%.
Key Single Family Residential Market Stats for the Central Okanagan (Peachland to Lake Country):
Key Single Family Residential Market Stats for the Central Okanagan (Peachland to Lake Country):
- 420 new listings
- 255 sold listings
- 42 average days to sell (down again from last month)
- $667,105 average single family residential price (up again from last month)
