Sales stats thru the first half of 2023 illustrate how resilient the North Okanagan real estate market has been.
Even though the Unit Sales and Sales Dollar Volume are way down compared to the same time frame last year, the market continues to surprise, as we have seen a 20% increase in the Median Sale Price since the start of the year.
So what about all that noise we were hearing last year, from the “EXPERTS”, who were saying it was a bad time to buy a home? Hmmmm
So looking forward, is it still/now a bad time to buy? Especially with the interest rate hikes we have seen recently. Obviously a lot depends on your financial situation and affordability etc. But if you can get into the market and don’t plan on making a move for a number of years the odds of prices being up compared to down are pretty damn good.
There is risk in every market. But there can be reward in every market.