Positive signs in South Okanagan real estate

Photo: The Canadian Press

There is an upward momentum in the real estate market in the South Okanagan after a slow period during COVID-19 in the spring. 

The South Okanagan Real Estate Board has reported that single-family home sales have jumped by 36 per cent year-over-year for June: 121 sold in 2020 and 89 in 2019. 

The average sales price for single-family homes is also well up, $617,986 this June compared to $513,248 in June 2019. 

"Housing market activity certainly increased in June, in stark contrast to what we saw the month before, but as risks still exist business has not returned to normal,” said SOREB President Lyndi Cruickshank.

“The increase in activity does draw cautious optimism for the housing market to recover sooner than may have been expected.” 

Townhouse sales are up 56 per cent year over year for June, but condos/apartment sales are down 26 per cent. 

More information on the South Okanagan Real Estate Board statistics can be found here.