The phrase of the month for August of 2021 for the Okanagan Shuswap Real Estate market, is "Leveling off." I hate to be a broken record, but this is what we expected. The insane market of the last two quarters of 2020 and the first two quarters of 2021 could not sustain itself and had to be correct either by a crash or a leveling off, which is what it has done.
For the moment, it has stopped its minor correction and leveled off at a robust market. Why did it not crash? That can be...
REALLY, the busiest market the Shuswap and Okanagan have ever experienced? YES its true, in March the absorption in the Central Okanagan was 99.76%. What that means is that in March virtually all houses that were on the market in the beginning of the month were sold by the end of the month. I have to remain professional and not use words that are too expressive but suffice it to say that is truly unbelievable. The average DOM (Days on Market to sell) in the Central Okanagan was 33 days. That is...
