Central Okanagan Residential Real Estate Trends: YEAR END 2017
Central Okanagan sales of single family, attached-wall and apartment properties totaled 291 units in December 2017, which was up by 5.4% when compared to the same month in 2016. Notably, the sales-to-listing ratio was 95% that month, and 79% for the final quarter of 2017 as a whole. These tight market conditions in the final months of 2017 lead to end of year inventory that remained low by historical standards, but none-the-less higher (+14%) than the historically low inventory levels that were reached in December of 2016.
Overall, the average sale price was +17% higher in December 2017 by comparison to December 2016 and +11.3% for the 2017 year.
To view specific trends by property types see the slide shows below:
Central Okanagan Existing Home Trends by Product Type December 2017
Disclaimer: Although the data analyzed have been produced and processed from sources believed to be reliable, no warranty expressed or implied is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of this articles information.