Oct 2015- Okanagan Real Estate Report

“Okanagan Achieves Home Sales Record in October” – report courtesy of OMREB

Kelowna, BC – “The Okanagan Mainline Real Estate Board (OMREB) reports that a new record for MLS® residential sales for the month of October has been reached. A total of 653 residential sales were posted last month, up 3.8% from the previous year, smashing the previous October record of 648 sold units set in 2007″.

“Housing demand has been robust in the Okanagan this fall,” said Christopher Miller, OMREB President and active REALTOR® in the Central Okanagan. “Strong fundamentals have boosted consumer confidence and led to rising home sales throughout most of the Okanagan region.”

“BC’s strong performing economy, rock bottom mortgage interest rates and robust population growth have provided a solid foundation for the housing market. While the fallout from the collapse of oil prices has negatively impacted some BC communities, most of the Okanagan has experienced an increase in housing demand this year”. View publication

Quick Stats: Compared to October 2014, residential real estate prices have increased by 5.7%, while townhome pricing increased by 10.04% and condos by 17.51% for October 2015.

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