(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

New coach hits off new season with Kelowna Falcons

Kelowna Falcons name Hayden Pewitt as manager

Lake Country man accused of sexual assault found not guilty due to alibi

Justice Dennis Hori determined a reasonable doubt in the Crown’s case against Robert Copeland

UBC to be first Canadian institution to join open science platform

The new service aims to make transparency, collaboration and reproducibility easier

New cannabis course coming to Okanagan College

The new Recreational Cannabis Retail Sales course will launch online on Feb. 17

Top spots to watch the Superbowl in Kelowna

A look at venues with great deals, big screens and game-level volume

B.C. reports first coronavirus in Vancouver region

First patient visited Wuhan, China, reported symptoms

‘Very disrespectful’: Headstones at Okanagan cemetery damaged by excavation crew

Headstones at Enderby’s Cliffside Cemetery mistakenly driven over by excavation crew

Despite reports of decline, birds flocking to national parks in Canadian Rockies

Recent studies suggest overall bird population has slid by three billion since 1970

Former UN committee member defends stance on B.C.’s Coastal GasLink pipeline

First Nations LNG Alliance accused UN committee, human rights watchdog of not doing their research

Fundraiser launched for missing Vernon man

GoFundMe campaign already at halfway mark of $5K goal

Opioid crisis to blame for shorter life expectancy in B.C. men, says Stats Can

Opioid crisis held responsible for declining life expectancy

Lecture series celebrates Okanagan art

David Doody presents at Vernon Art Gallery for UBCO Lecture Series

Earthquake on top of highway closure a wake up call for Island’s West Coast

“When someone says, ‘Be prepared for 72 hours,’ that means exactly that: be prepared.”

Most Read