Sales Still Slow But Much Better Than March
North Okanagan Items of Note for April:
- Unit Sales make nice rebound after abysmal March sales (143 from 91).
- Inventory finally reaches pre-pandemic levels as Active Listings inch above 10-Year Average.
- Overall North Okanagan market on the cusp between Buyer's and Balanced Market.
Conclusion
Sales make a nice rebound from March's very low numbers - even though sales remain about 25% below the 10-Year average.
Prices are wavering but continue to be fairly flat.
Inventory in the North Okanagan finally back to pre-pandemic levels as we see new listings above the 10-Year average.
It does appear that many would-be buyers are still waiting to hear that interest rates are coming down. And with all the uncertainty that is out there who can blame them. Affordability is still an issue for many buyers.
And just like last month it continues to be a good opportunity for those people who are looking to buy subject to selling their current home. In the past few months we have seen many offers/contracts coming in subject to the Buyer selling their home.
