Much Like 2024 But With Much Lower Interest Rates
Items of Note for April:
- North Okanagan Year-over-Year sales flat (143 vs 143) and come in 23% below the 10 Year average for April (185). Over the past three years April sales consistently low (149, 143 & 143).
- Median Selling Price up 2% Year-over-Year while Average Selling Price was also up 2% Year-over-Year.
- the Composite Benchmark Selling Price was up 3.6% Year-over-Year ($670,000 vs $646,600) but down slightly from March ($673,700).
- North Okanagan sees the highest number of Active Listings for April since 2016.
- The North Okanagan straddles the line between a Buyer's and a Balanced market
- Central Okanagan sales unchanged Year-over-Year (415 vs 415) and come in 19% below the 10 Year Average (415 vs 510). (March sales were 30% below the 10 Year Average).
- British Columbia residential home sales for month of April down 14.6% Year-over-Year
- Overnight Rate April 2025: 2.75%, Overnight Rate April 2024: 5%
Sales
North Okanagan Unit Sales were unchanged Year-over-Year (143 vs 143) which is 23% below the 10 Year Average of 185 (March was 28% below the 10 year average). In the past 10 years only 2020 had fewer sales (69).
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