September Housing Stats. What you need to know!

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With attention grabbing headline news announcing new federal mortgage requirements and a spill over from the Foreign Buyers tax in Vancouver, September’s North Okanagan real estate stats promised an interesting read. A slightly slower month is to be expected compared to August as people get back to school and work, but overall it was business as usual. New listings for the month were exactly the same at 139 as August, sales were down from 122 to 97 however sales compared to last September were up 15.48%. Year to date sales are up a whopping 41.87%, while the average price for the same year has risen a healthy 10.79% to $441,289. Inventory continues to slide to 440 detached homes, down from 623 or -29.37% last year, creating an ever shrinking pool of homes for Buyer’s to choose from.

We are firmly in a Seller’s market, however with savvy Buyer’s being more informed than ever, it’s important for home sellers to prepare their homes properly for market and to price it effectively to ensure you stand above the crowd and achieve a successful sale. For information on what is important to today’s Buyer and tips on how best to prep your home, contact me at any time. Happy to help.

Visit this blog on a regular basis to stay up-to-date with the latest North Okanagan real estate trends.

For more detailed information about specific neighbourhoods, property types or your own home please call Doug at 250-550-4203.