Real estate board reporting high sales
The South Okanagan Real Estate (SOREB) Board is reporting another month of high sales, despite a dwindling inventory.
Single family home sales were up 44 per cent with 123 units sold in October compared to 85 units sold in the same month of 2019.
In Osoyoos the average price of a single family home was up 31 per cent to $775,441. Sale prices for townhouses were up 27 per cent to an average of $627,357.
SOREB president Lyndi Cruickshank explained that the numbers are unusual for October as that is usually when the slowdown season begins.
The high sales mean that the number of available homes in the South Okanagan is going down, falling from 1671 listings to 1536.
“We continue to see exceptional demand for homes throughout the South Okanagan with limited inventory,” Cruickshank said. She encouraged those looking to buy a home to keep COVID-19 safety precautions in mind when looking for a home.