We hope that this month’s newsletter finds you and yours well and in good health! With the spring weather finally here, the spring market is upon us as well! Our Agents are working with their clients to get their properties ready to be listed for sale now that conditions allow for more time spent outdoors.
Let's take a look at where the market is now. 395 properties were listed in the month of March in the South Okanagan which is slightly down just over 6% over last March.
Unit Sales across the South Okanagan have not kept pace with listings however, we are seeing an uptick with 164 unit sales which is down 36.92% from the 260 unit sales reported in March of last year.
The average days to sell a Single Family Home in Penticton for YTD in 2023 has increased to 65 days from last year's 44 days.
Penticton, 144 properties were listed for sale in March which is still slightly lower than March 2022 by 7.69%.
Unit sales in Penticton, like most of the South Okanagan and BC were down 35.04%, with 76 units sold in March 2023.
The average days to sell a Single Family Home in Summerland for YTD in 2023 has decreased to 45.7 days from last year’s 53.8 days.
In Summerland, 65 properties were listed for sale in March which is slightly lower than March 2022 by 1.52%.
The average days to sell a Single Family Home in Osoyoos for YTD in 2023 has increased to 75 days from last year’s 46 days.
In Osoyoos, 69 properties were listed for sale in March which is still slightly lower than March 2022 by 1.43%.
We continue to assist our Buyer clients in acquiring property on their journey of new home ownership.
Our Seller clients continue to realize valuable returns on their investment when they sell and are also often choosing to port their existing, low rate mortgages to new properties when they move.
As always, we are here to provide you with timely information and assist you in making smart investment decisions.
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