Real Estate Update
The Okanagan Mainline Real Estate Board says, "If demand continues at current rates, we will continue to experience competition for available properties, multiple offer situations and sales prices that are higher than asking price.”
The average price for a home in the Okanagan is 480-thousand dollars, that's up 13 per cent from over a year ago. The Board says one reason for the price jump is that there are 30 per cent fewer homes on the market.
With 520 residential sales in February, across the region of Revelstoke to Peachland, market activity is picking up but sales volume is 9 per cent lower than a year ago.