A real estate sign is pictured in Vancouver, Tuesday, June, 12, 2018. (THE CANADIAN PRESS/Jonathan Hayward)

A real estate sign is pictured in Vancouver, Tuesday, June, 12, 2018. (THE CANADIAN PRESS/Jonathan Hayward)

Okanagan-Shuswap real estate market continues hot start to 2021

Sales in February were up more than 100 per cent over last year, reports the Association of Interior Realtors

Real estate sales in the Okanagan-Shuswap are continuing to outperform forecasts with a second record-breaking month in a row, reports the Association of Interior Realtors.

From Revelstoke to the U.S. Border east to Manning Park and in the South Peace River region in the north, Realtors sold a total of 1,212 residences in February 2021. That’s a 116 per cent surge from February 2020.

The South Okanagan region saw the highest increase with a 130 per cent surge.

“We are seeing a noticeable increase on various types of recreation and vacation homes sales suitable for all seasons,” said the association’s president, Kim Heizmann. “Due to COVID-related travel restrictions and limitations more and more inter-provincial buyers are taking the opportunity to create vacation opportunities within B.C.”

From January to February, active listings in the region decreased slightly. From Shuswap/Revelstoke to Central Okanagan, the number of listings dropped drastically to 1,763 from almost 3,000 in February 2020.

“Shortage of supply is still an issue with inventory struggling to meet demand, particularly when it comes to single-family homes,” said Heizmann.

Home prices across the region increased slightly, with single-family homes noting the highest increase. More detailed statistics are available in the infographic below:

READ MORE: Kelowna council shoots down Upper Mission subdivision after 8 years of planning

READ MORE: Okanagan home prices jump as real estate market heats up in January

Do you have something to add to this story, or something else we should report on? Email: michael.rodriguez@kelownacapnews.com


@michaelrdrguez
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