Home prices drop from year ago

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Another drop last month in the cost of buying a home in the Central Okanagan.

The Okanagan Mainline Real Estate Board says a residential home sold for 692 thousand dollars, a decrease of just over 24 thousand dollars from June of last year.

Condo and Townhome sales remain strong though, with a sales increase of close to 6 grand from a year ago.

The average selling price is now just over a half a million dollars ($508,000). 

It is taking longer to sell a residental home in Kelowna, with an average of 103 days on the market, which is 51 days longer than in June of 2018.