Though November鈥檚 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 鈥渃omparing apples to oranges.鈥�
鈥淐omparing 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.鈥�
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.
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Jake.courtepatte@kelownacapnews.com
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