The South Okanagan Real Estate Board saw an increase in real estate activity in July. (Contributed)

The South Okanagan Real Estate Board saw an increase in real estate activity in July. (Contributed)

South Okanagan sees increase in real estate activity

More single family homes sold at higher prices when compared with a year ago

Sales of single family residential homes in the South Okanagan increased considerably in July compared with the same period a year ago.

According to the latest statistics from the South Okanagan Real Estate Board, there were 134 units sold in July, a 30 per cent increase from the 103 units sold in the July, 2019.

However, the number of active listings, at 1,870, is down from last July’s 2,119 active listings.

The average sale price for a single family home in July 2as $636,745, a six per cent increase from the average sale price of $598,972 in July, 2019.

READ ALSO: Struggling South Okanagan real estate market rebounds in June

READ ALSO: South Okanagan real estate sales drop dramatically in April

On average, it took 75 days for a single family house to sell.

“We are seeing an increase in sales likely influenced by consumers re-assessing their needs post- quarantine,” said Lyndi Cruickshank, president of the real estate board.

“Supply is yet to catch up to the demand as we work to support not only those looking to purchase but also people looking to safely place their homes on the market for sale.”

Prices varied around the South Okanagan and Similkameen.

In Kaleden and Okanagan Falls, where 10 homes were sold, the average selling price was $1,325,860.

Osoyoos saw 15 sales, with an average price of $738,003 and Summerland, with 18 sales, had an average price of $684,856.

In Penticton, there were 48 sales, with an average price of $547.090.

Princeton had the lowest average selling prices in the region. There were 15 sales, with an average selling price of $304,267 in that community.

“With many people making lifestyle and work changes, living in the Okanagan has become an even more attractive draw for many looking at moving from other communities,” Cruickshank said.

To report a typo, email:
news@summerlandreview.com
.



news@summerlandreview.com

Like us on Facebook and follow us on Twitter.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A map released by the BCCDC on Jan. 15 shows the number of new COVID-19 cases reported for each local health area between Jan. 3 and 9. (BCCDC Image)
Salmon Arm and Vernon see increase in new COVID cases, curve flattening elsewhere

The rate of new cases is levelling off in Kelowna, Penticton and Revelstoke.

The Premier Hotel on Summerland’s Main Street and the taxi were owned by Bill and Lydia Johnston. Today, the building is Sass Fashions in Summerland. H.S. Kenyon, who moved the building to Summerland from Midway, continued with building construction. His family now operates Greyback Construction. (Photo courtesy of the Summerland Museum)
Two former Summerland hotel buildings have been moved over the years

Transport of buildings is part of community’s history

Interior Health update. File photo.
86 new COVID-19 cases, two more deaths in Interior Health

The new deaths are from Heritage Square, a long-term care facility in Vernon

Caroline McKay
COLUMN: Bring books out of hibernation for the new year

Plenty of lesser-known works from famous authors available from the library

The trailer’s occupant fled the scene of the fire because he was afraid, officials were told. 
(Andrea DeMeer- Spotlight)
Princeton trailer fire deemed not suspicious

Man fled the scene because he was afraid, officials were told

Keith the curious kitten is seen on Nov. 4, 2020 at the Chilliwack SPCA. Friday, Jan. 22, 2021 is Answer Your Cat’s Questions Day. (Jenna Hauck/ Chilliwack Progress file)
Unofficial holidays: Here’s what people are celebrating for the week of Jan. 17 to 23

Answer Your Cat’s Questions Day, Pie Day and International Sweatpants Day are all coming up this week

(Phil McLachlan - Capital News)
‘Targeted’ shooting in Coquitlam leaves woman in hospital

The woman suffered non-life threatening injuries in what police believe to be a targeted shooting Saturday morning

The organizer of a Kelowna protest against COVID-19 restrictions was fined by the RCMP for the third time Saturday, Jan. 16, 2021. (File photo)
COVID-19: Organizer of Kelowna anti-restriction protest ticketed for third time

The individual’s latest ticket for $2,300 was handed out by RCMP at an anti-lockdown rally Saturday

Mount Boucherie Secondary School is one of three Kelowna schools with confirmed cases of COVID-19, according to an update from the school district Saturday, Jan. 16, 2021. (File photo)
COVID-19 confirmed at 3 Kelowna schools

Interior Health has confirmed exposures at Mount Boucherie, Springvalley and South Rutland schools

Half of the most expensive homes are on 2080 Mackenzie Crt, which is across the street from Revelstoke Mountain Resort. (Liam Harrap/Revelstoke Review)
The 10 most valuable homes in Revelstoke for 2020

Combined, the properties are worth more than $35M

Lake Country native Evan-Riley Brown is in the cast for the new film Journey To Royal: A WW II Rescue Mission to be released on video on demand and streaming services on Feb. 2. (Contributed)
Okanagan actor lands role in WW II movie

Evan-Riley Brown, from Lake Country, cast in production labelled as hybrid of a feature film and documentary called Journey To Royal: a WW II Rescue Mission.

JaHyung Lee, “Canada’s oldest senior” at 110 years old, received his first dose of the COVID-19 vaccine on Thursday, Jan. 14, 2021. He lives at Amenida Seniors Community in Newton. (Submitted photo: Amenida Seniors Community)
More than 20 days have passed since the last case of COVID-19 was confirmed at Lakeside Manor. (File photo)
Salmon Arm retirement facility reopens social areas after COVID-19

More than 20 days have passed since last confirmed case at Lakeside Manor

A unique-looking deer has been visiting a Nanoose Bay property with its mother. (Frieda Van der Ree photo)
A deer with 3 ears? Unique animal routinely visits B.C. property

Experts say interesting look may be result of an injury rather than an odd birth defect

Most Read