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Market Update

Blog by Century 21 Amos Realty | August 27th, 2013

As promised, here is our market update. We just received a great update from Cameron Muir; chief economist for BCREA. What’s new is that the market is starting to get better! Buying activity was the strongest for the month of July since July 2009 and there is a strong signal showing that the house market is getting better, even with the tighter lending restrictions. We can see it’s getting better as we are now on the cusp of a balanced market as we are at a 13% sales to active listings ratio and 15% - 20% is where a balance market occurs. The average sales price in the South Okanagan was $327,042 with more sales and fewer listings. 

Please see below for a more detailed market update from Cameron Muir