The Central Okanagan香蕉视频直播檚 housing market prices are 香蕉视频直播渟oftening香蕉视频直播� according to a real estate agent.
But they香蕉视频直播檙e still going for their asking price, said real estate agent Andrew Smith, with Royal LePage.
香蕉视频直播淧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 we香蕉视频直播檙e not a community where a $500,000 condo wouldn香蕉视频直播檛 get offers of $450,000,香蕉视频直播� he said.
However, agents are seeing more price reductions in homes. 香蕉视频直播淭here香蕉视频直播檚 no question we香蕉视频直播檙e seeing a lot more price reductions than we saw in 2017 (and) 2016. They香蕉视频直播檙e rolling in every day,香蕉视频直播� 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 year香蕉视频直播檚 sales had an average of $771,000 with 254 sales, he said.
香蕉视频直播淲e香蕉视频直播檙e in danger in the next new months of having it dip into the $600,000s again,香蕉视频直播� he said.
However, one month doesn香蕉视频直播檛 make a market, added Smith.
香蕉视频直播淚f you look at year-to-date numbers香蕉视频直播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 that香蕉视频直播檚 based on 2,600 sales for 2017 and 2,100 for 2018. So we香蕉视频直播檙e about 500 unit sales off last year, but prices are up.香蕉视频直播�
As to where the Central Okanagan香蕉视频直播檚 housing market will go, that is still up in the air considering the province香蕉视频直播檚 speculation tax and the uncertainty with this year香蕉视频直播檚 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 aren香蕉视频直播檛 going for less than they香蕉视频直播檙e worth in the current market.
carli.berry@kelownacapnews.com
Like us on and follow us on .
