Why luxury homes in the Okanagan are selling well right now.
If we take a moment to take a look at home sales in the over a million dollar price bracket, we see that these properties are selling well, some may even say better than last year. Factors could include the low interest rates that still remain in place with the banks and other lending facilities and because there is so much more choice. The large amount of inventory available to potential buyers means more home sales. According to OMREB statistics, pending home sales in the high end property market grew substantially from last year. Home sales in Single Family Residential Dwellings for the past two months to date are higher when you look at each sector of the over million $$ sale price. But first, you MUST take a look at some of these gorgeous homes by clicking on the photos below and be taken to fully view their amazing spaces! no drooling allowed, lol
Single Family Dwellings sold for $1,000,000 – $2,000,000 from September 15th, 2019 – November 15th, 2019
42 homes sold (almost double last year’s sales)
Single Family Dwellings sold $1,000,000 – $2,000,000 from September 15th, 2018 – November 15th, 2018
24 homes sold
SFD sold $2,001,000-$3,000,000 between Sept 15th/19 to Nov 15th/19
8 homes sold (double last year’s sold high end homes)
SFD sold $2,001,000-$3,000,000 between Sept 15th/18 to Nov 15th/18
4 homes sold
Those homes that sold for over $3,001,000 and higher Sept 15/19-Nov 15th/19
3 homes sold (again higher than last year’s sales)
Those homes that sold for over $3,001,000 and higher Sept 15/1-Nov 15th/18
2 homes sold
This is wonderful news for those of you who are thinking of selling to downsize! This is also great news for those of you who are aspiring to buy your dream home! It is now a balanced market here in the Central Okanagan. It’s a win-win for both buyers and sellers, especially for those home owners staying here in the same market but just moving up or down in price.
It has been our pleasure to give you our real estate market update – visit us again for more insight into our housing market each week! Thanks for reading and feel free to share!
Tamara & Shannon Stone