WE HAD A PRE-CHRISTMAS SURGE IN HOME SALES…..I think it will be short-lived, but still a nice week where the sun continues to shine and no snow in the forecast! 18 homes have been sold in the past seven days. This is 7 more homes sold (11) vs. the prior week. Total retail value of these 18 purchases was just over $6.7 million dollars. The highest priced sale was a Single Family home on the North side of the city which sold for more than $550k. The difference between listing price and sales price was 97%. We have been hovering between 96% and 97% for the past seven weeks. Before this time, we had been firmly locked into a minimum sales price of 97% of a seller’s asking price. Homeowners are being very realistic with their offering price, and we are firmly locked into a balanced market at this time. I still believe that RIGHT NOW is the PERFECT time to buy that new HOME!

Here’s the Property “Type” breakdown for this past week (November 18th to November 25th)

  • 2 Half-Duplexes
  • 3 Townhomes
  • 4 Condos
  • 9 Single Family Homes

Remember…If you’re thinking of Buying or Selling the South Okanagan, please give me a call at 250-329-5138 to see how YOU fit into today’s real estate market!