North Okanagan Market Continues To Improve
North Okanagan Items of Note for May:
- Unit Sales continue to rebound. May's 183 sales is only 12% below the 10-Year average. While sales were only up 3% Year-over-Year, the market has improved steadily since a very slow March.
- Active Listings tops 1,000 for first time since Sept 2019.
- Prices continue to rise - the North Okanagan just had the highest median selling price and average selling price ever for the month of May. And the Benchmark Price for the overall North Okanagan market has been climbing steadily since the start of the year, hitting its highest mark since August 2023.
- Overall the North Okanagan market moves into a Balanced Market.
- Bank of Canada begins to lower interest rates.
