WELL – LET’S CALL THIS WEEK A BIT OF A SLOWDOWN – NOT A TREND, JUST A SLOWDOWN! After two strong weeks that seen us sell 55 homes, we came down to earth a bit. Only 18 homes were sold this week….still, we have sold 92 homes so far this month! That’s not bad at all! The total retail value of these 18 transactions was just over $11.5 million dollars, compared to $11.8 million the prior week. The highest priced sale was a Lake Front Estate in the Naramata region which sold for more than $2.7 million dollars. The variance between list and sales price was 98% this week….this is the second week in a row that we’ve broken 97%. This is partly due to the fact that Home Seller’s have sharpened their pencils and in many cases have reduced their home values to more realistic levels to reflect our current market trend (Buyer’s Market). It really is a great time to be buying a home in the South Okanagan!
Here’s the breakdown of sales for this past week (July 22nd to July 28th):
- 1 Condo
- 1 Half-Duplex
- 2 Townhomes
- 14 Single Family Homes
Remember…If you’re thinking of Buying or Selling in the South Okanagan, please give me a call at 250-329-5138 to see how YOU fit into today’s real estate market!