Real estate sales got off to a slow start in 2017.
There were 85 property sales in the North Okanagan in January compared to 108 during the same month in 2016.The 85 property sales were worth $31.2 million compared to $38.5 million.
One of the current challenges is lower inventory, which is boosting prices.
“Given the high number of building permits that were taken out over the course of this past year, we’re hopefulthat new properties will begin to come onto the market, which should positively impact housing affordability,” saidAnthony Bastiaanssen, Okanagan Mainline Real Estate Board president.
In the North Okanagan, there were 33 residential property sales worth $13.9 million compared to 57 units worth$21.9 million in January 2016.
