(Black Press file photo)

Okanagan real estate sales up 23% from December 2018

The Okanagan Mainline Real Estate Board releases the statistics for December 2019

Residential sales throughout the Okanagan saw an increase last December.

According to the Okanagan Mainland Real Estate Board (OMREB), in the Central Okanagan, there were 118 single-family sales, 45 townhouse sales and 74 condo sales. The December 2019 sales in the Revelstoke to Peachland region surpassed December 2018’s sales by 23 per cent, but was a decrease of 24 per cent from November 2019.

“While activity was subdued during the first half of the year, the last couple of months saw a strong push towards market recovery,” said OMREB president Michael Loewen.

“As we head into 2020, it’s great to see demand remains robust as market conditions have pulled ahead of previous forecasts.”

READ MORE: Kelowna community group urges the city to do more in the fight climate change

READ MORE: Okanagan Symphony Orchestra presents Orchestral Rock Odyssey

It took an average of 80 days in the Central Okanagan to sell a home, as opposed to the entire regions average of 102 days.

The overall listings for December 2019 came in down four per cent from December 2018, but the late push in the year helped balance the numbers across the region.

“The rebound in residential sales should help to mitigate the recent declines in property tax assessments experienced by many homeowners in centers across our region,” reads the OMREB press release.

Throughout the Central Okanagan in December 2019, the current inventory of single family residences dropped 6.7 per cent, townhouses dropped 10. 4 per cent and condos dropped 7.7 per cent.

To report a typo, email:
newstips@kelownacapnews.com
.


@KelownaCapNews
newstips@kelownacapnews.com

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

UPDATE: 6.5-magnitude earthquake in Idaho shakes B.C. Interior

An earthquake was reportedly felt just before 5 p.m. throughout the Okanagan

West Kelowna pauses Re-leaf Program after COVID-19 confirmed at local nursery

Tree deliveries are paused until further notice after outbreak confirmed March 31

COVID-19: Non-profit 3D printing face shields for local hospital

‘The response has been completely overwhelming’

Outbreak of COVID-19 at West Kelowna agricultural business; 14 cases confirmed

75 workers are in isolation — 63 migrant workers and 12 local workers

Memorial Cup concert with Brett Kissel canceled amid COVID-19 concerns

Brett Kissel was scheduled to perform at Live on Lake in Kelowna on May 30

B.C. records five new COVID-19 deaths, ‘zero chance’ life will return to normal in April

Province continue to have a recovery rate of about 50 per cent

UPDATE: Coronavirus concerns prompt event cancellations across the Okanagan

This is a running list of events cancelled across the Okanagan

Community drums up support for North Okanagan hospital workers

Even health care workers and fellow first responders turned out to show love

South Okanagan first responders salute hospital workers

“You’re awesome” and “Thank you” say Penticton first responders, passing by emergency entrance

John Horgan extends B.C.’s state of emergency for COVID-19

Premier urges everyone to follow Dr. Bonnie Henry’s advice

B.C.’s first community COVID-19 death was dentist ‘dedicated’ to health: lawyer

Vincent was 64 when he died on March 22 after attending the Pacific Dental Conference

Two inmates at prison housing Robert Pickton test positive for COVID-19

Correctional Service of Canada did not release any details on the identities of the inmates

‘April Fools’ social media prank leads to criminal investigation in Osoyoos

Post claims individuals will be canvassing door to door seeking housing for seasonal workers

Stay inside vehicles on Interior ferry crossings to prevent spread of COVID-19: B.C. government

Glade, Kootenay and Arrow Lakes some of the ferry crossings in Interior

Most Read