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Kelowna  

Okanagan Shuswap's June data shows resilient housing market

House prices still climbing

Benchmark home prices were up across the board in the Okanagan Mainline Real Estate Board region in June.

Single-family home prices were up 3.1% in Central Okanagan ($684,000), 3.5% in North Okanagan ($492,500) and 0.9% in the Shuswap/Revelstoke area ($432,100).

The number of June sales across the region, which covers Peachland to Revelstoke, increased 77% compared to May and was up 9% over June 2019.

New listings were up 4% over May but are still 14% lower than the June 2019 mark.

“These numbers are a positive indicator that real estate in the Okanagan is recovering from the pandemic-induced slowdown of the previous three months,” OMREB president Kim Heizmann said in a press release.

“While we are not on the other side of this yet, this is a cautiously optimistic sign that the housing market may bounce back sooner than forecast.”

The average number of days it took to sell a home decreased 6% to 85 days, which is another sign the market is bouncing back.

Benchmark townhouse prices were up between 1% and 2% in the three areas, while condo prices jumped between 3.5% and 4.9%.



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