Real estate sales in the North Okanagan remained exceptionally strong in January 2021. While sales were down slightly from December 2020, there were 166 units sold in the area in Jan ’21, compared to only 97 during the same month in 2020. Active inventory was at 782 listings (as compared to 1095 in January 2020). The high sales volume and low inventory conditions continue the pattern observed during the later half of 2020.
The median price of residential homes sold was $575,000 in January 2021, up over 20% from the median of $479,000 in January 2020. Acreage/House properties were up 37% year-over-year, with the median price increasing to $760,000 from $555,000 a year ago.
“Hikes in sale dollar volume is another impact of COVID-19 as buyers are seeking out larger spaces to
improve their living conditions,”
“larger homes naturally also come with a larger price tag. However, we are still seeing an upwardKim Heizmann, President, Association of Interior REALTORS®
pressure on pricing driven by a shortage of inventory that is unable to meet consumer demand.”
If you’re considering buying a home in the current sellers market in the North Okanagan, connect with an experienced Realtor. Tyler Rands is a top Realtor in the North Okanagan region, and is based in Enderby, BC. Contact Tyler Rands today!