The spring real estate market rush is Really Heating up! The Central Okanagan March statistics show increases in virtually every single category of home type to prices.
The total number of sales is up 26% over this time last year, and inventory is down. Leading to an increase in pricing, as prices have risen 10% over this time last year.
In all housing categories, sales have increased enough to make not only real estate junkies take notice, but home owners as well. The once over-saturated condo market seems to be coming into it’s own with prices and sales increasing, but inventory finally going down. This is a welcome change from the past few years for condo owners.
Things are looking up! I’ve already seen a large number of Alberta and international buyers this year, very early in the season for them to already be out here looking and buying a vacation and second property!! and our own local demographic is contributing as well. l get excited when prices increase, but I’m also very excited to see the number of actual sales riding that wave as well.
I see this trend continues, no reason for it not to!!