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Local Residential Real Estate Inventory Trending Upwards


KELOWNA, B.C. – May 3rd 2024.

 Residential real estate market activity in April heated up to a simmer with new inventory coming on to market, reports the Association of Interior REALTORS® (the Association).

A total of 1,282 residential unit sales were recorded across the Association region in April coming in above

March’s 977 units sold and almost on par compared to April 2023 with a 0.1% decrease. “After the lukewarm activity in March, it’s nice to see that the bustling Spring market has arrived,” says the Association of Interior REALTORS® President Kaytee Sharun, adding that “while it may have taken longer to arrive than usual, this Spring activity is indicative of a normal seasonal real estate market.”

New residential listings saw a hardy uptick of 34.3% compared to April 2023 with 3,409 new listings recorded last month. The total number of active listings saw an increase of 41.6% of total inventory compared to April 2023 with 8,838 recorded across the Association region. The highest percentage increase in active listings was in the Shuswap/Revelstoke region with a total increase of 58.5% compared to April 2023.

“There are numerous factors that could be contributing to the increase of new inventory,” notes Sharun, adding “it could merely be a case of the seasonal Spring market finally hitting its stride, a case of government policies coming into play or simply due to an adjustment of expectations aligning more with current market conditions.”

“After years of having an inventory drought challenging homebuyers, this upswing in listings will come as a relief to buyers as it expands their options making finding a dream home a more viable reality than when limited options may have had them settling for the next best,” adds Sharun.

The benchmark price for single-family homes saw decreases in the Central Okanagan, North Okanagan and Shuswap/Revelstoke regions in year-over-year comparisons, while the South Okanagan region saw aslight increase of 1%, coming in at $758,000. Benchmark pricing in the townhome housing category saw decreases compared to April 2023 across all regions with the highest percentage decrease recorded in theSouth Okanagan coming in at $509,100. In the condominium housing category, all regions, with theexception of the South Okanagan, saw decreases in the benchmark price for April 2024 compared to the same month last year.

Given the high stakes on such a significant financial transaction, home sellers and buyers can benefit from the knowledge and skills of a practiced REALTOR®.  We are here to help!


April North Okanagan Real Estate Report 2024

Chris Holm & Associates

We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan.  We are a true real estate co...

We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan.  We are a true real estate co...

May 9 5 minutes read


Scroll to see what happened in North Okanagan real estate in MARCH 2024.


Slow Start, Strong Finish:
BC Housing Market Expected to Rebound

BCREA 2024 Second Quarter Housing Forecast

Vancouver, BC – April 25, 2024. The British Columbia Real Estate Association (BCREA) released its 2024 Second Quarter Housing Forecast today.

Multiple Listing Service® (MLS®) residential sales in BC are forecast to increase 7.8 per cent to 78,130 units this year. In 2025, MLS® residential sales are forecasted to strengthen further, rising to 86,480 units.  

"After a slow start for the housing market in 2024, all eyes are on the Bank of Canada. Although fixed mortgages are down significantly, it appears that buyer confidence is hinging on seeing the Bank lower its policy rate," said Brendon Ogmundson, Chief Economist. ”Given weak economic growth, a slowing labour market, and a downward trend in inflation, we expect that the Bank will begin to loosen monetary policy this summer, which should spur some pent-up demand off the sidelines."
With prices starting to trend up in recent months, it will be crucial for the supply of new listings to keep pace with sales to contain price growth at a time when affordability has never been more challenging. We are confident that listings activity will rebound from a near-record low in 2023, which will help keep average price growth in a 1 to 2 per cent range this year.

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