There are indications that the local real estate market is remaining steady.
There were 80 unit properties sold in the North Okanagan, on par with the same month in 2010 and up 26.98 per cent from 63 salest in December.
While total residential sales dropped slightly (4.35 per cent) over last January (to 66 from 69), sales volumes were up marginally (0.51 per cent) over the same period in 2010 (to $23.32 million compared to $23.2 million).
“As overall demand improves along with better economic and employment conditions, we expect to see more market stability and normalization during the first quarter of 2011 with sales trending upwards before revised lending criteria tightens the cost and availability of credit,” said Howard Neufeld, with the Okanagan Mainline Real Estate Board.
“All markets can expect to see an increase in listings in the next few months as sellers decide to put their homes on the market moving into spring and, thereby, widening the choice for buyers.”
