The South Okanagan Real Estate Board reports that single-family residential MLS® sales in the South Okanagan increased by 36% to 121 units sold in June compared to 89 units sold during the same time in 2019.
The number of active listings totalled 1,798 for June 2020, a decrease of 18% from last June’s 2,185 listings and 1,783 compared to May 2020.An upward momentum was seen in overall sales dollars which increased by 54%, as well as the average sale price for single-family homes in June rose by 20% to $617,986 compared to $513,248 in June 2019.
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“Housing market activity certainly increased in June, in stark contrast to what we saw the month before, but as risks still exist business has not returned to normal,” says SOREB President Lyndi Cruickshank, adding that “it certainly shows how quickly REALTORS® adapted to do their part to serve clients responsibly and continue to do so.”
The increase in activity does draw cautious optimism for the housing market to recover sooner than may have been expected.
The South Okanagan Real Estate Board is comprised of 297 REALTORS® member, 41 real estate offices in the southern interior of BC and 7 real estate offices in northern BC.
