A cooling trend in home sales continues across the region of Revelstoke to Peachland, with 709 sales posted to the Multiple Listing Service (MLS®) in August, a 5% drop from the previous month, yet 20% fewer sales than this time last year reports the Okanagan Mainline Real Estate Board (OMREB).
"This past month we've seen the average days on market for listings in the Central Okanagan increase, however, the average price has still managed to rise by 5% compared to August 2017 ," states Grant Waidman, Kelowna REALTOR®.
This balancing market will provide Buyers with more inventory to choose from and more time to make their choices - if you are considering investing in the Okanagan real estate market now may be the perfect time. Get in touch with the experts at the Grant Waidman Group to learn how we can help.
Key Single Family Residential Market Stats for the Central Okanagan:
- 454 new listings
- 190 sold listings
- 60 average days to sell (up 16 days since last month)
- $687,413 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