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AUGUST North Okanagan Real Estate Report 2023

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...

Sep 15 3 minutes read


𝙄𝙛 𝙮𝙤𝙪'𝙧𝙚 𝙥𝙧𝙚𝙥𝙖𝙧𝙞𝙣𝙜 𝙩𝙤 𝙗𝙪𝙮 𝙤𝙧 𝙨𝙚𝙡𝙡 𝙉𝙤𝙧𝙩𝙝 𝙊𝙠𝙖𝙣𝙖𝙜𝙖𝙣 𝙧𝙚𝙖𝙡 𝙚𝙨𝙩𝙖𝙩𝙚, 𝙝𝙚𝙧𝙚'𝙨 𝙬𝙝𝙖𝙩 𝙮𝙤𝙪 𝙣𝙚𝙚𝙙 𝙩𝙤 𝙠𝙣𝙤𝙬 𝙖𝙗𝙤𝙪𝙩 𝙩𝙝𝙚 𝙘𝙪𝙧𝙧𝙚𝙣𝙩 𝙢𝙖𝙧𝙠𝙚𝙩.

 The local market is ever-evolving , this month we're seeing more active listings coming onto the market than this same time last year.

Whether you’re thinking of buying or selling a home, or just like to stay up to date on the real estate market, you need locally sourced, real data to keep you informed. Where do you find it?


Right here. We’ve compiled all of the info you need to know in an easy-to-understand snapshot.


🔹 For sellers, this means you'll benefit highly from working with a professional real estate team that offers top notch marketing services to set your property apart from the crowd and give your property the exposure it deserves.🔹 For buyers, this is an opportunity to have a surplus of listings at your fingertips to capitalize on your opportunity to get into the real estate market, or step into a home that better fits your lifestyle.

If you have any questions about these highlights from the August 2023 Association of Interior REALTORS® market stats, do not hesitate to reach out - we're always here to help.

Here's a look at AUGUST real estate in the North Okanagan.


Provincially Speaking... Sales Trend Slightly Lower in August

Vancouver, BC – September 13, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 6,608 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in August 2023, an increase of 15.7 per cent from August 2022. The average MLS® residential price in BC was $958,424, up 5.2 per cent compared to August 2022. The total sales dollar volume was $6.3 billion, representing a 21.7 per cent increase from the same time last year.
“Home sales are starting to settle back into a trend of below-normal activity following an unexpected surge in the spring,” said BCREA Chief Economist Brendon Ogmundson. “However, sales are in a much stronger place than expected given current mortgage qualifying difficulty.”
 
Active listings in the province were flat month-over-month at just over 31,000 total listings and up slightly year-over-year.
 
Year-to-date BC residential sales dollar volume was down 17.4 per cent to $52.7 billion, compared with the same period in 2022. Residential unit sales were down 13.4 per cent to 54,126 units, while the average MLS® residential price was down 4.6 per cent to $973,011.

 
 


Curious about what
your home is worth now?

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