These first six months have been very positive for the Okanagan valley, and in particular our office here in Kelowna, as our unit sales are up 16% over last year at this time and we are selling 42% of our own listings in house. In June, we achieved a record 47% of all our sales being done within the RE/MAX office, which means we are selling almost one half of all our listings ourselves.
Our local real estate board The Okanagan Mainline Real Estate Board
shows encouraging signs as well with overall unit sales up 9.8%. Condo
and townhouse sales showed the biggest jump in activity in June up 49%
and 42% respectively. With all of this spring and early summer activity,
listings are still down over 10% from last year indicating we are
headed to a balanced market which does not necessarily favor the buyer
or the seller.
Well priced properties are selling in a relatively short time and in
some cases create a multi offer environment. Prices continue to remain
relatively flat, experiencing very little movement either way. Higher
prices are not likely to happen in the near future as the listing
inventory is still high.