It’s officially 2015 and a lot has happened over the last year…including great changes in the Real Estate market! As per Cameron Muir’s update…In December consumers appeared to be closing the year much stronger than expected. We can definitely attest to that as we had a busy December, which we haven’t seen in a while. South Okanagan unit sales are up 66.2% at 128 on a year to year change; Average sales price is approximately $319,475. As well, MLS sales are on pace and expected to go up by 15% compared to 2013…wonderful news!
Cameron also reported that we still have a balanced market and its only getting stronger! Home prices across the province are up 3% and the South Okanagan has 1257 listings which is down by 15%. Inventory is still sliding downward which is a great indicator that the market is picking up…as less listings means more people are buying! It’s actually been 4 years since active listings have been at their current level.
The winter market is already busier than expected and we anticipate a great spring on our hands. So there you have it….a great market update from your great Realtors.
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