Kelowna Property sales drop in November
There were fewer property sales in November compared to a year ago.
Overall sales declined from 128 in 2009 to 101 last month, a 21.09 per cent decrease. Total residential sales dropped by 19.64 per cent over last November to 90 from 112.
Year to date, residential sales are only off by 7.57 per cent from last year at this time (to 1,257 from 1,360).
“Home sales bottomed out in July and activity has trended upwards since then with current figures reflective of 2001 levels,” said Darcy Griffiths, with the Okanagan Mainline Real Estate Board.
“We remain cautiously optimistic going into winter. We’re anticipating that overall demand will improve along with steady economic recovery and ongoing employment growth.”
While motivation continues to be affected by consumer confidence, Griffiths says serious buyers are leveraging their purchasing power by taking advantage of selection, pricing and low interest rates.
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