South Okanagan real estate market still showing strength

Residential home sales continue to move in an upward direction in the South Okanagan.

Unit sales rose by six per cent in February over the same period a year ago, the South Okanagan Real Estate Board reported in a media release today, March 5, from 111 units in 2019 to 118 units this year.

Total sales performance was also up in February compared to last year, with sales volume for all properties up 22 per cent from $48,170,391 last February, to $58,658,205 this year.

The average sale price of a residential unit in the South Okanagan last month was $451,512 compared to $397,521 in February, 2019.

“The average sale price may be significantly impacted by one, or just a few, higher or lower priced property sales,” South Okanagan Real Estate Board president Lyndi Cruickshank said in a press release.

The South Okanagan market has been steadily rebounding after taking a plunge in late 2018 and a slow start to 2019.

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