Market Update

Like our weather...real estate is HOT!

Residential sales for the month of June for the entire Okanagan area totalled 1,381, down from May’s 1,482 sales. The same area also saw a 32% increase in year-over-year comparisons, however that is still in comparison to the restrictive months of the pandemic. Our North Okanagan stats indicate continued pressure as listing inventory stays steady and sales have increased our market by 14% …average days for a home on the market has lowered from 108 days last June to 56 days this June.

Our market remains to be a Sellers market but not at the same level as spring. June, July and August are typically slower real estate months while people take time to enjoy their summer holidays. The fires and smoke have also had a downward effect on activity. However, we are bracing ourselves for the fall, which is typically the second busiest real estate time of the year.

Contact your Coldwell Banker REALTOR® to find out more specific details about the real estate market and how we can help you achieve your real estate goals.