North Okanagan Real Estate Market Show Signs Of Strengthening For Second Straight Month

Items of Note for December:

• Selling prices continue to bounce around but the overall trend the past year has been fairly flat
  • Median Selling Price and Average Selling Price up significantly from November; however December selling prices were fairly flat Year-over-Year.  Median Selling Price was up 3% Year-over-Year while Average Selling Price was down 3.4% Year-over-Year. 
  • the Composite Benchmark Selling Price was up Year-over-Year ($647,400 vs $637,900) but down from November ($671,500). 
  • North Okanagan's $705,000 Median Selling Price sets new all time record for any month and tops $700k for the first time ever. 
• North Okanagan sales continue to show growing strength - up 41% Year-over-Year (83 vs 59) which is just 14% below the 10 Year Average for Dec (96).
• Central Okanagan sales rebounding for third straight month - up 41% Year-over-Year (251 vs 178), which is just 12% below the 10 Year Average (284).
• British Columbia residential home sales for month of Dec up 24.7% Year-over-Year
• Bank of Canada next rate announcement January 29, 2025.

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