The Central Okanagan91裸聊视频檚 housing market prices are 91裸聊视频渟oftening91裸聊视频� according to a real estate agent.
But they91裸聊视频檙e still going for their asking price, said real estate agent Andrew Smith, with Royal LePage.
91裸聊视频淧rices are certainly softening, and with absolute certainty, the number of unit sales is softening, but the list to sell number, the percentage, that number stays consistent in hot markets and slow markets, and that is approximately 98 per cent of (asking price). So we91裸聊视频檙e not a community where a $500,000 condo wouldn91裸聊视频檛 get offers of $450,000,91裸聊视频� he said.
However, agents are seeing more price reductions in homes. 91裸聊视频淭here91裸聊视频檚 no question we91裸聊视频檙e seeing a lot more price reductions than we saw in 2017 (and) 2016. They91裸聊视频檙e rolling in every day,91裸聊视频� Smith said.
RELATED: Okanagan real estate market cools off
For October, the average sale price of a home was $705,000 with 190 residential house sales. Last year91裸聊视频檚 sales had an average of $771,000 with 254 sales, he said.
91裸聊视频淲e91裸聊视频檙e in danger in the next new months of having it dip into the $600,000s again,91裸聊视频� he said.
However, one month doesn91裸聊视频檛 make a market, added Smith.
91裸聊视频淚f you look at year-to-date numbers91裸聊视频he average sale prices are significantly higher this year compared to last year. Last year was $708,000 and this year is $771,000 and that91裸聊视频檚 based on 2,600 sales for 2017 and 2,100 for 2018. So we91裸聊视频檙e about 500 unit sales off last year, but prices are up.91裸聊视频�
As to where the Central Okanagan91裸聊视频檚 housing market will go, that is still up in the air considering the province91裸聊视频檚 speculation tax and the uncertainty with this year91裸聊视频檚 interest rates, Smith said.
RELATED: Housing slowdown forecast to cool B.C. economy
Young people are also moving to multi-family developments like The Verve in Glenmore, instead of single-family home areas like Rutland or Glenrosa in West Kelowna, places where they traditionally moved to, he said.
And, according to Smith, the bright side is houses aren91裸聊视频檛 going for less than they91裸聊视频檙e worth in the current market.
carli.berry@kelownacapnews.com
Like us on and follow us on .
