While real estate numbers may be rising month over month from Revelstoke to Peachland, they still show a stark contrast to 2019 data.
Residential sales in the area increased to 446 units sold in May compared from April’s 299 units, yet remained down 42 per cent from this time last year, reports the Okanagan Mainline Real Estate Board (OMREB).
New residential listings also saw an uptick, totalling 1,198, an increase of 49 per cent compared to last month’s new listings. Overall active listings increased 9 per cent over April’s inventory of 3,467, yet remained 16 per cent lower than April 2019’s inventory of 4,490.
The average number of days for a home to sell also increased in May, from 83 days to 91 days.
“While we are still in the midst of a global pandemic it is encouraging to see that residential sales are moving at an upward trajectory,” said OMREB President Kim Heizmann. “We are starting to see a return to real estate activity which looks promising for the future, however, we remain cautious about predicting future outcomes as many economic factors will have impacts.
“Virtual tours and alternative technological solutions have ensured that real estate transactions can continue to transpire responsibly.”
The percentages in the table below signify the change from last year’s numbers:
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