North Okanagan Real Estate August 2022 Market Update
Chris Holm
Whether buying or selling, hundreds of clients in the Armstrong and North Okanagan area have relied on Chris Holm since 2007...
Whether buying or selling, hundreds of clients in the Armstrong and North Okanagan area have relied on Chris Holm since 2007...
In the North Okanagan Residential home sales sector, we saw a decline in the number of transactions of almost 34%, with a resulting sales volume decline of just under 24%.
At the same time, the average residential sales price increased 15.2% (to $692552.) over last year and the median or middle of the residential market price rose almost 15% to $610,000.
Between August 2020 and August 2021, home prices across the United States and Canada rose to record levels, with the U.S. housing market rising to a record of 19.9% and the Canadian housing market rising to a record 21.4%.
2022 stands to be another strong year for sellers. If you're thinking about selling your home, being aware of the trends in the market will help you understand the strength of the market.
Our monthly market update showcases everything you need to know about local real estate trends over the last month.
August Market Update for the North Okanagan Homes
130
New Listings
349
Active Listings
69
Firm Sales
5
Months/Inventory
August Market Update for North Okanagan Townhomes
44
New Listings
79
Active Listings
29
Firm Sales
2.7
Month/Inventory
August Market Update for North Okanagan Condo Apartments
21
New Listings
49
Active Listings
17
Firm Sales
2.8
Month/Inventory
North Okanagan Residential Homes Sold
96.21%
Sale-to-List Price
Curious about how your home's value has changed?
We will gladly prepare a Comparative Market Analysis for you so that you are armed with the most current information.
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