Newsletter

Just a quick update:
Some data looks positive, but, be weary as overall the market is still struggling to break through. Average House Sale Price in May: $1,112,576 compared to Average Year-to-date House Sale Price of $1,079,468. As we noted last month, market activity has picked up pace. For the first time in a year, sales slightly exceeded the corresponding month from last year. Where prices had declined somewhat earlier in the year the average price is now down a mere 2.4% from last year for May. A significant improvement! Sales are rising in the $560k- $1.0M range with an increase of 5.8% in units sold YTD! If you recall the crazy days of 2022, you may remember the average Days-on-Market was very low whereas now it is a respectable 47 days. This is still well below the 10-year average, so homes are still selling fairly quickly. With that said, we are down 33% in total sales from same time in 2022 (Sold 1,988 so far this year vs 2,948 at this date in 2022).
As everyone adjusts to new market conditions and government regulations, your wise choice is to use the services of an experienced REALTOR®, like a RE/MAX REALTOR®. RE/MAX agents are leaders in the Okanagan consistently exceeding the expectations of their clients. If you want the best, contact your RE/MAX agent, and know you are in good hands! FREE Home Evaluations! 
Happy June and get out there and enjoy the sunshine!