As we have previously reported last month, this year’s Spring market was a slow starter.  That being said 518, properties were listed in the month of June which was down just 3.36% from June of last year when we listed 536 homes.

Year-to-date however we have listed 2812 properties across the South Okanagan which is up more than 16% from the 2421 that were listed for sale in 2023. Certainly, there is more inventory today than Buyers have seen in years!


190 properties were sold in South Okanagan last month, which is also down 3% from June of last year. We had 861 properties trade hands Year-to-date which resulting in a decrease of Unit Sales by 7.42% off of last years 930 units that sold.

 

Summerland


In Summerland, we listed 57 new properties in June, which was a full 20% less than June of last year. Year-to-date however listing inventory is up 2.27% with 361 new listings vs 353 last year. 22 properties traded hands in
June, which is down from the 28 that were traded last June.

Year-to-date unit sales are super soft in Summerland with only 93 properties selling which is down almost 35% from the 143 that sold last year this time.

 

Penticton

 

In Penticton we listed 224 new properties in June which was 19% more than June of last year. Year-to-date listing inventory is up 21.71% with 1054 new listings vs 866 last year 95 properties traded hands in June which is up 7.95% from the 88 that traded last June. Year-todate we have had 398 unit sales in Penticton which is down 3.4% from the 412 that sold last year this time.

 

Osoyoos

In Osoyoos we listed 86 new properties in June which was just 1% more than June of last year. Year-to-date however listing inventory is up a full 23.9% with 477 new listings vs 385 last year. 16 properties traded hands in June which is down 20% from the 20 that traded last June. Year-to-date unit sales are super soft in Osoyoos with only 93 properties selling which is down more than 21% from the 118 that sold last year this time.

 


Marketing times have been extended and Sellers of properties can expect 67 days on market on average before a sale is achieved. Our Seller clients are exercising patience while working closely with their RE/MAX Agent to
ensure they are the best-dressed belle at the ball so that their properties stand out to Buyers as Sellers recognize that the days of new listings flying off the shelf are long gone.

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