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South Okanagan Photos

Report on real estate statistics for Oliver and Osoyoos

The British Columbia Real Estate Association (BCREA) reports that a total of 6,498 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during September, up 43.2 per cent from September 2012. Total sales dollar volume was 55.7 per cent higher than a year ago at $3.49 billion. The average MLS® residential price in the province was $537,458, up 8.8 per cent from September 2012.

“Consumer demand for housing in September was the strongest in four years,” said Cameron Muir, BCREA Chief Economist. “After declining for most of 2012, BC home sales have increased now for seven consecutive months.”

Here in the South Okanagan, the market has not been as active. Overall, the South Okanagan Real Estate Board saw a small increase of 1.7% in year to date residential sales to the end of September, 2013 over the same period in 2012.

Naramata has seen the biggest increase, while Oliver experienced the largest decrease at -26.4%. The total number of sales in September for the Board area was 163, up from 138 in September last year. The average sale price of a single family home across the Board area this year is $372,184.

Oliver saw just 7 residential sales in September, compared to 10 last year bringing the total year to date residential sales in Oliver to 92, down from 125 for the same period last year, a decrease of 26.4%. The number of sales is down in every category of residential properties. The average sale price of a single family home in Oliver this year is $372,034. There were 182 active residential listings at the end of September, an approximate 18 month supply. There have been 6 farms, 6 bare land, and 5 IC&I sales so far in 2013 bringing the total number of sales to 109.

Osoyoos had 12 residential sales in September 2013 compared to 11 for the month in 2012. There has been a total of 107 year to date residential sales to the end of September up from 96 in the same period last year. The average sale price of a single family home in Osoyoos this year is $353,523. There were 335 active residential listings on the market at the end of September representing an approximate 28 month supply. There have been 10 farm sales and 15 bare land sales to date in 2013 bringing the total number of sales so far this year to 132.

Thanks to Beth Garrish, Royal LePage