Sellers holding out and not taking lowest price
It appears the Okanagan is fairing significantly better than the majority of BC when it comes to the recreational property market.
Royal LePage released a report today suggesting sales are down almost 23 percent from a year ago.
Kelowna Real Estate Agent Mark Walker says that's an ugly number, but it isn't that grim here.
"We have seen the buyers expecting to get a great, great deal. We have seen offers come in lower than expected and sellers just holding out and not wanting to sell and holding out."
Walker says Vancouver buyers are amazed at the deals they can find in the Okanagan real estate market.
"We are attracting a demographic that has money. Of course they are looking for a good deal, but right now the owners that have those properties aren't needing to sell them. They are keeping the supply and demand high and not selling to the first guy that comes along with the lowest price," Walker added.