Residential real estate sales for the month of July in the Okanagan region slid to pre-pandemic activity in 2022.
But, according to the Association of Interior Realtors, the benchmark price for homes in the Okanagan and Shuswap/Revelstoke regions saw increases in year-over-year comparisons across all home categories, with the most noticeable increase seen in the North Okanagan, for condominiums.
The benchmark price for condos in the North Okanagan increased 29.2 per cent compared to June 2021, clocking in at $325,900.
The North Okanagan’s benchmark price for single-family homes was up 12.3 per cent as well.
The benchmark price represents a typical property within a market.
There has also been an increase of inventory on the market, and that is good news for prospective buyers.
The association reported 1,196 residential unit sales were recorded across the…