Okanagan home sales recover ahead of predicted strong 2020

by Steve Randall13 Jan 2020

Home sales in the region of British Columbia from Revelstoke to Peachland posted a strong bounceback in December compared to the same month of 2018.

But the 23% year-over-year gain missed November’s 527 sales by 24%, according to the Okanagan Mainline Real Estate Board (OMREB).  Overall, the stats support the Board’s expectation for better market conditions this year. The wider BC region has seen a return to more normal conditions in recent months.

“While activity was subdued during the first half of the year, the last couple of months saw a strong push towards market recovery”, says OMREB President Michael Loewen, adding that “as we head into 2020, it’s great to see demand remains robust as market conditions have pulled ahead of previous forecasts.”

Active listings for the region tightened by 4% year-over-year to a total 2,715 in December, down from 3,205 in November and it took 102 days on average to sell a home, slightly higher than in November.

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