The Okanagan Mainline Real Estate Board (OMREB) reports residential sales across the region of Revelstoke to Peachland continued a downward trend with 799 sales, a slight drop from May but 22% lower than this time last year.
"As predicted the Okanagan has switched into a Balanced Market this past month which may stem from recent government intervention in the form of new mortgage rules, interest rate hikes and the proposed speculation tax," states Grant Waidman, Kelowna REALTOR®.
Members of the public wishing to express concerns about the proposed speculation tax to the BC government can do so via the scrapthespeculationtax.ca website.
Key Single Family Residential Market Stats for the Central Okanagan:
- 565 new listings
- 228 sold listings
- 42 average days to sell
- $717,720 average single family residential price
If you are looking to sell in the Okanagan now is a great time! Learn more on how GWG can help sell your home quicker and for more money at www.gwgkelowna.com/sell-with-gwg