We hope that this message finds you excited and energized for the New Year!

114 properties were listed on the MLS® in the month of December in the South Okanagan which is up 6.5 % over December of last year.

YTD 4216 properties have been listed which is down almost 1% in comparison to 2021 when 4251 properties were listed for sale.

Out of these newly listed properties, 47 of them were listed in Penticton which is up 9% in comparison to December of last year.

90 properties traded hands in the South Okanagan in the month of December which is down 10% from December of last year.

YTD 2022 properties have been reported as sold through the MLS® which is down 38% from the same time in 2021.

This IS a normal real estate market in comparison to sales reported in previous years.

You will notice that the entire South Okanagan is still experiencing price appreciation with the average sale price for a single-family home increasing by more than 8% over last year and 10% for all types of real estate in the South Okanagan.

The Average Sale Price YTD for a Single-Family home in Penticton is $881,547 and $659,105 for all types of real estate.

If you are a Buyer, this IS the real estate market Buyers have been waiting for, less competition, ample selection, and more time to decide.
The next scheduled date for the Bank of Canada to announce changes to its overnight rate is
January 25th.
If you are contemplating a purchase, you may wish to take advantage of the winter months
, beat the next interest rate increase and avoid the crowded spring market of 2023.

If you are a Seller, don’t worry, we’ve got you covered!

RE/MAX Sales Professionals are skilled at assisting you in selecting competitive asking prices that helps you MAXIMIZE the return on one of your biggest assets.

Thank you for honouring us with your trust in 2021.

We loved serving you and look forward to doing so in the New Year!

Happy New Year!

 

For all things home.

RE/MAX

The Right Agents for Today’s Market

 

PENTICTON

Out of these newly listed properties, 47 of them were listed in Penticton which is up 9% in comparison to December of last year.

YTD our listing level in Penticton is down 5% almost with a total of 1637 properties being offered for sale in 2022.

There are currently 301 properties available for sale in Penticton.

In Penticton 44 properties traded hands in December and 887 YTD which is also down 38% from 2021.
You will notice that Penticton and the entire South Okanagan are still experiencing price appreciation with the average sale price 
for a single-family home increasing by more than 8% over last year in Penticton and 10% for all types of real estate in the South Okanagan.

The Average Sale Price YTD for a Single-Family home in Penticton is $881,547 and $659,105 for all types of real estate.

READ FULL MARKET UPDATE | PENTICTON

 

SUMMERLAND

Out of these newly listed properties, 4 of them were listed in Summerland which is down 63% in comparison to December of last year.
YTD our listing level in Summerland is
down 3.73%  with a total of 501 properties being offered for sale in 2022.

There are currently
60 properties available for sale in Summerland. 

YTD 2022 properties have been reported as sold through the MLS® which is down 38% from the same time in 2021.

In Summerland 6 properties traded hands in December and 247 YTD which is also down 30% from 2021.
Conversely, you will notice that while Summerland and the entire South Okanagan are experiencing a unit sales decline these areas are still experiencing price appreciation with the average sale price for a single-family home holding its own with a minor decrease of 3.95%

YTD in Summerland and 10% increase for all types of real estate in the South Okanagan.

The Average Sale Price YTD for a Single-Family home in Summerland is $883,072 and $756,014 for all types of real estate.


READ FULL MARKET UPDATE | SUMMERLAND

 

OSOYOOS

Out of these newly listed properties, 20 of them were listed in Osoyoos which is down 4.76% in comparison to December of last year.

YTD our listing level in Osoyoos is down 2.5% with a total of 664 properties being offered for sale in 2022.

There are currently 259 properties available for sale in Osoyoos.

YTD 2022 properties have been reported as sold through the MLS® which is down 38% from the same time in 2021.

In Osoyoos 13 properties traded hands in December and 274 YTD which is also down 47% from 2021.

Conversely, you will notice that while Osoyoos and the entire South Okanagan are experiencing a unit sales decline these areas are still experiencing price appreciation with the average sale price for a single-family home increasing by 1.89%

YTD in Osoyoos and 10% increase for all types of real estate in the South Okanagan.

The Average Sale Price YTD for a Single-Family home in Osoyoos is $889,309 and $616,726 for all types of real estate.

 

READ FULL MARKET UPDATE | OSOYOOS