Kelowna Real Estate Market Stats - July 2016

The Okanagan Mainline Real Estate Board (OMREB) reports residential sales in the Okanagan moderated slightly in July, compared to previous months, with sales of 1042 units posted to the Multiple Listing Service (MLS®), down 17.5% from June sales but still a 20% increase over July of last year. 

Key Single Family Residential Market Stats for the Central Okanagan:
- 391 new listings 
- 325 sold listings 
- 50 average days to sell 
- $624,773 average single family residential price (up again from last month) 

Grant Waidman, local Kelowna REALTOR®, notes that the number of active listings has dropped across the entire region representing a 22.83% decrease compared to this time last year continuing the seller’s market trend.  With tightened market conditions and multiple offers being presented it is imperative to have a professional on your side.  If you are thinking of buying or selling in the Okanagan be sure to contact the Grant Waidman Group to learn how they can help.

Kelowna Real Estate Market Stats - July 2016