Local real estate market showing vigour

Provincial real estate markets appear to be picking up, including local markets in the South Okanagan Similkameen.

  • Aug. 12, 2014 3:00 p.m.

Provincial real estate markets appear to be picking up, including local markets in the South Okanagan Similkameen.

For the first time in five years, multiple listing service residential sales are exceeding the 80,000 threshold.

Home sales rose sharply in the second quarter and some of the strongest gains in unit sales this year are expected in the Okanagan and Kootenay regions.

“The Similkameen market is picking up, not to say prices are,” reported Keremeos realtor Tuesday McDonald of Royal LePage Locations West Realty in Keremeos.

“More people are buying,  prices are good but they aren’t rising.”

McDonald said where not too long ago there were no buyers,  she’s now seeing “more action” in the market.

 

“Prices aren’t inflated, actually prices are good,” she said, “there are more sold signs out there, that’s for sure.”

In the local (Keremeos – Cawston and Olalla market, there have been 64 listings sold from January 1 to August 11 of the  year, compared to 36 units sold during the same period last year. There are presently 135 active listings in the area.