Decrease the font size of the article
Increase article font size
The Interior Association of Realtors says the housing market in the Okanagan, British Columbia, is doing well.
The association reported that residential real estate sales remained steady throughout July as new listings came on the market, with 1,351 home sales recorded across the association's jurisdiction, 1.2 percent lower than the number of sales in the same month last year.
The number of new residential listings increased by 4.1% compared to July 2023, with 2,843 new listings recorded last month. The number of active listings also increased by 31.5% compared to last year, with a total of 10,207 properties for sale.
It's the email you need to stay up to date with the day's top stories from Canada and around the world.
Get daily national news
The day's top news, politics, economics and current affairs headlines delivered to your inbox once a day.
By providing your email address, you acknowledge that you have read and agree to Global News' Terms of Use and Privacy Policy.
“Property transactions appear to be trending favorably, with new listings slightly above average and sales picking up after a relatively calm start to the summer market,” said Katie Sharan, president of the Interior Association of Estate Agents.
In the Shuswap, South Okanagan and North Okanagan regions, benchmark prices for detached homes fell slightly to an average of $750,000, while average townhouse prices also fell by an average of five per cent to an average price of $535,000.
Story continues below ad
“In a balanced real estate market, consumer confidence increases when buyers and sellers make decisions with confidence that prices reflect actual market conditions,” Sharan added.
2:21 Take a peek inside a $10 million penthouse for sale in Kelowna
© 2024 Global News, a division of Corus Entertainment Inc.
