The Okanagan Mainline Real Estate Board (OMREB) reports residential sales posted to the Multiple Listing Service (MLS®) for the Peachland to Revelstoke region declined to 324 in December, a 29% decrease from both the previous month and this time last year.
"This past month the Central Okanagan region has seen the number of active listings (i.e. inventory) grow and the number of purchases decline resulting in a shift in our market that favours the buyer. In fact other than in January 2018 the overall number of sold single family residential listings each month have been the lowest they have been in the past four years," states Grant Waidman, Kelowna REALTOR®.
This shift in the 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:
- 129 new listings
- 91 sold listings
- 74 average days to sell
- $668,199 average single family residential price
If you are looking to buy in the Okanagan be sure to browse all the current listings and subscribe for new listing notifications at www.gwgkelowna.com
Learn more on how GWG can help sell your home in this market at www.gwgkelowna.com