Despite Lower Interest Rates Slow Sales Continue

North Okanagan Items of Note for August:

• Sales hit 10 year low for the month of August and finish the month 26% below the 10 Year Average (138 vs 186)  
• Average Selling Price up 13% Year-over-Year - spurred on by a strong month for homes selling in the $1,000,000+ price range. 
• The North Okanagan market continues to be in a Balanced Market.

Sales

North Okanagan Unit Sales were down 6% Year-over-Year (138 vs 146) and are 26% below the 10 Year average (186).  
It was also the lowest number of sales recorded for the month of Aug over the past 10 years.  

Median Sales Price

• Median Selling Price was $644,500 which is up 9% Year-over-Year ($592,500) and is up from July ($639,000).  

Average Sales Price

• Average Selling Price was $748,629 which is up a substantial 13% Year-over-Year ($664,813) and also up from July ($656,254).  

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