Spring had begun to warm up the air and the real estate market as 483 properties were listed across the South Okanagan in the month of May. This is up 4.5% over May of last year.

Year to Date there have been 2233 new listing put on the MLS® for sale which is up a full 18.46% more than same time frame last year, meaning that there is ample supply for would be homebuyers.

175 properties traded hands in the South Okanagan in the Month of May which is down 17.45% over May of last year. Year to Date Unit Sales are down 12.13% in comparison to same time period last year.

The Average Sale Price for a Single-Family Home in 2024 YTD across the South Okanagan appreciated 2.53% to $817,969.


Summerland Market

In Summerland, we had 67 new listings in the month of May which is down 4.29% over May of last year. Year to Date 293 new listings have hit the system which is up 4.27% in comparison to same time frame last
year.

The average sale price for a single-family home in Summerland YTD is $940,835, which is up 2.14% compared to last year’s sales numbers. As always, values differ from neighbourhood to neighbourhood and property to property and often depend on market conditions.





Penticton Market


Spring had begun to warm up the air and the real estate market, as 483 properties were listed across the South Okanagan in May. This is up 4.5% from May of last year.

Year to Date there have been 2233 new listing put on the MLS® for sale which is up a full 18.46% more than same time frame last year, meaning that there is ample supply for would be homebuyers.





Osoyoos Market


In Osoyoos, we had 95 new listings in the month of May which is up 39.71% over May of last year. Year to Date, 380 new listings have hit the system, which is up 26.67% in comparison to the same time frame last year.
The Average Sale Price for a Single-Family Home in Osoyoos is $1,169,488, up considerably from last year. As always, values differ from neighbourhood to neighbourhood and property to property and often depend on market conditions.

Finally, some selection for our buyer clients! Unit Sales were on par with last May at 28 Units. Year to Date we
are Unit Sales are down 25.51% over last year's numbers, as many buyers have decided to sit on the sidelines
until interest rates come down just a tad more. Even Sellers feel the pinch as they too have to often secure a
new mortgage at today's rates to pay for the new home they are moving to.


Savvy buyers will not wait for rates to adjust as they know there will be too many buyers competing at
that time, rather, they are buying now and securing variable rate mortgages that allow them to lock in
when they feel the time is right.


The Average Sale Price for a Single-Family Home in Osoyoos is $1,169,488 which is up considerably
from last year. As always, values differ from neighbourhood to neighbourhood and property to
property and are often dependent on market conditions.





As always, values differ from neighbourhood to neighbourhood and property to property and often depend on market conditions. For a check up on your homes market value, call me!

For a check up on your homes market value, call me!

For all things home, we are RE/MAX.

 

Warmest regards,

Deborah Moore

Broker Owner

RE/MAX Orchard Country