South Okanagan  

Roof comes off housing market

The number of home sales in the South Okanagan have decreased 38 per cent from this time last year and while the sample size is quite small in some areas, the most noticeable change is in Summerland.

Last year there were 12 units sold in January, and only 5 units sold in 2013, according to the South Okanagan Real Estate Board. There were 51 units sold throughout the entire region in January 2013 compared to 82 shifting hands during the same period in 2012.

Total sales volume for the board decreased to $14,663,499 in January 2013. That’s less than half of last years total of $30,812,310 for the month of January. On a positive note, the average amount of days to sell a unit also decreased from 161 days to 118.

A break down is as follows:

                 Sales 01/13 Sales 01/12
Naramata 0 1
Summerland 5 12
Keremeos 1 2
Oliver 6 13
Penticton 26 34
Kaleden/ OK Falls 5 7
Princeton 2 4
Osoyoos 5 9

The total number of active listings for January 2013 sits at 2,230.

More South Okanagan News