We hope that you and your family are enjoying the warmer weather we have
had this week. It is a perfect time to get out for a drive in the South Okanagan
to take in the beautiful landscapes and collect the bounty of our local harvest.
South Okanagan
The Average Sale Price for a Single Family home in the South Okanagan held it’s ground against economic pressures coming in at $841,459 just a 3.95% decline from last years Average Sale Price of $876,090. The Average Sale Price for a Single Family Home in Summerland increased to $917,570 from $915,563 of last year as families adjust their budgets to fund higher interest rates and other inflationary costs.
The Average Days on Market for all types of real estate in th South Okanagan has increased by over 25.76% to 71.88 days from 57 days as our Seller clients patiently wait for the right buyer at the right price.
Our local real estate market in Summerland saw more homes hit the market than usual with 53 new listings put for sale which is up 47.22% from the 36 that were listed last September. Year to date we have had 516 properties listed on the MLS System which is up17.27% from last years listing numbers of 440. 11 properties changed hands in the month of September in Summerland which is 15.38% lower than September sales numbers last year. Year to date unit sales came in at 201 which is down over 3% from the 208 unit sales reported same time last year.
Our local real estate market in Penticton saw than usually with 163 new listings put for sale which is up 11.72% from the 145 that were listed last September. Year to date we have had 1321 properties listed on the MLS System which is down 0.23% from last years listing numbers of 1324. 59 properties changed hands in the month of September in Penticton which is 15.69% higher than September sales numbers last year. Year to date unit sales came in at 630 which is down over 14.63% from the 738 unit sales reported same time last year.
Our local real estate market in Osoyoos saw 45 new listings put for sale which is down 19.64% from the 56 that were listed last September. Year to date we have had 557 properties listed on the MLS System which is just of from last years listing numbers of 562. 13 properties changed hands in the month of September in Osoyoos which is 8.33% higher than September sales numbers last year. Year to date unit sales came in at 167 which is down over 29.54% from the 237 unit sales reported same time last year
If you are contemplating a move now or in the spring, reach out and let us assist you by putting a plan in place to make it happen!
To the benefit of our Buyer clients, we know when our new listings are coming online and they often are sold to our clients working with their RE/Max Agent. Our Seller clients benefit from the MAXIMUM exposure of their property by RE/MAX.
It’s good to have a friend in the real estate business!
From our HOME to yours!
Cheers, RE/MAX in the South Okanagan
Wishing you a safe and enjoyable fall!
RE/MAX in the South Okanagan
Deborah Moore
Broker Owner
