Though November’s real estate market was far below that of its 2021 counterpart, it closely mirrored that of the pre-pandemic market, said the Association of Interior Realtors.
Last month 844 residential units were sold in the Okanagan, a 48.4 per cent decrease from November 2021. However, Association of Interior Realtors President Lyndi Cruickshank said that comparing last month to one that was during the height of the COVID-19 pandemic is like “comparing apples to oranges.”
“Comparing to a typical seasonal pre-pandemic November would represent a more accurate comparison over the frenzied market over the last few years, which would show that we are currently not that far off from an average November.”
Throughout the Okanagan, the benchmark price for single-family homes all saw minor increases. Out of all other housing categories, the greatest increase is for condos in the South Okanagan, up 16.4 per cent to $422,800.
The average number of days to sell a home went up from 64 to 65.