We hope that this message find you well and that you and yours are hunkering in during this early snowfall.
Like the weather, unit sales have cooled considerably across the South Okanagan. 289 Properties were listed on the MLS® in the month of October in the South Okanagan which is down 2.36% over October of last year. YTD 3826 properties have been listed which is down 2.84% over the same time in 2021.
142 properties traded hands in the South Okanagan in the month of October which is down 38.53% from October last year.
YTD 1825 properties have been reported as sold through MLSreg; which is down 38.16% from the same time in 2021. This IS a normal real estate market in comparison to sales reported in previous years.
The Average Sale Price YTD for a Single-Family home in Penticton is $896,815. 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.
While interest rates are rising with 1 more announcement date still ahead of us this year, interest rates are still very affordable. If you are contemplating a purchase, you may wish to take advantage of the fall/winter months and beat 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 an accurate asking and subsequent sell price that helps you MAXIMIZE the return on one of your biggest assets.
For all things home.
The Right Agent's for Today's Market!
Out of these 289 properties, 113 of them were listed in Penticton which is down 5.83% in comparison to October of last year. YTD our listing level in Penticton is down 9.09% with a total of 1441 properties being offered for sale in 2022. There are currently 309 properties available for sale in Penticton.
In Penticton 60 properties traded hands in October and 797 YTD which is down 38.26% 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 appreciating 11% over last year in Penticton and 12.87% for all types of real estate in the South Okanagan.
READ FULL MARKET UPDATE | PENTICTON
In Summerland 20 properties traded hands in October and 228 YTD which is down 30.28% from 2021. You will notice that Summerland and the entire South Okanagan are still experiencing price appreciation with the average sale price for a single-family home on par with prices last year in Summerland and up 12.87% for all types of real estate in the South Okanagan.
The Average Sale Price YTD for a Single Family home in Summerland is $896,968. 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.
READ FULL MARKET UPDATE | SUMMERLAND
Out of these 289 properties, 43 of them were listed in Osoyoos which is down 2.27% in comparison to October of last year. YTD our listing level in Osoyoos is down 4.75% with a total of 601 properties being offered for sale in 2022. There are currently 288 properties available for sale in Osoyoos.
In Osoyoos 12 properties traded hands in October and 249 YTD which is down 46.91% from 2021. You will notice that Osoyoos and the entire South Okanagan are still experiencing price appreciation with the average sale price for a single-family home up 3.62% compared to same time last year in Osoyoos and up 12.87% for all types of real estate in the South Okanagan.
The Average Sale Price YTD for a Single Family home in Osoyoos is $908,913. 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.
