THE “PROVERBIAL” AIR IN THE REAL ESTATE BALLOON MIGHT BE DEFLATING JUST A BIT AS WE ALL COME TO TERMS WITH COVID-19 AND THE NEW NORMAL. In total, just 10 homes were sold in the past seven days, ten less (20) vs. the week prior. TOTAL VALUE of these purchases was just over $5.1 million dollars, or $4.6 million less ($9.7 million) than the week before. The highest priced sale was a Single Family / Acreage in the Uplands / Redlands neighbourhood which sold for more than $1.3 million. The difference between listing price and sales price was 97% for the week. It’s apparent that SELLERS are willing to take less for their homes with all the news surrounding Covid-19. My key indicators are now pointing towards the housing market moving into a “BALANCED POSITION”!
Here’s the breakdown of sales by property “type” for this past week (April 5
th to April 12
th)
- 1 Mobile Home
- 1 Half-Duplex
- 1 Acreage
- 2 Townhomes
- 3 Condos
- 2 Single Family
Remember…If you’re thinking of Buying or Selling the South Okanagan, please give me a call at 250-328-5138 to see how YOU fit into today’s real estate market!
