The Okanagan Shuswap is going through it’s mellowing and softening process as the world around us crumbles but we really have nothing to worry about. Vancouver sales are down 30% and Toronto sales are down close to 40%. In the Okanagan Shuswap we still have a surplus of buyers moving from the coast and Alberta that is keeping our market strong. Although our year to date sales are down slightly from last year they are still well above the 10 year average. Last week a REALTOR had a listing with 17 offers that sold for $45,000 over list price. It doesn’t sound like the sky is falling just yet. The absorption for April of 2018 is still over 20% in all 3 zones. That means that over 20% of our housing inventory sold in April in all 3 zones. Most experts think a balanced market exists at around 12 to 14% absorption. A balanced market is still a good market. Our market has no spectacular drops or bubbles bursting but rather is steady. Prices will rise about 6 to 7% this year which is lower than the last few years but better than a lot of areas in the country. The months to come will complete the story for 2018 but for now it is steady and strong.
The Conscious Investor
Here is what you can expect:
• An Investment Property Watch sent monthly. Hand selected properties with Pro Forma analysis.
• Monthly market updates with an Investor's Corner designed to make you a better Real Estate Investor.
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