I hope you & yours are well and prospering thus far in this new Year 2022.
It has been quite the eventful 3.5 months already; I will keep to real estate but please allow me to acknowledge the terrible War in Ukraine and the many prayers for it to end with the Ukraine intact & still with their independence. If I can say, a top priority for any country on our planet!
The market is still very active and it's no surprise, there is still a housing shortage!...
There were records broken right across the board in 2021 in the Okanagan Shuswap Real Estate market. The area experienced record-breaking price increases, record-breaking sales and record low inventory. The unique advantage of being at the end of the year is that we can compare the totals and averages for the year with previous years to get a clear concise perception of what was actually going on. In the stats machine if you look at the red print to the right of the data you see the averages...
This month's report illustrates one of the reasons why I still love this industry. After 32 years of being a licensed Realtor, the industry is always full of surprises. Very often, people quote, “history repeats itself.” It's pretty hard to find historical data that illustrates that history is repeating itself in the Okanagan Shuswap Real Estate market. This is all new territory. Everything points towards, “We should be slowing down.” It is the time...
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...
