Home Run Market Update Blog

June 2011

It looks like the number of single family homes listed in the North Okanagan has finally started to come down. There were 848 homes listed on the MLS on July 4, down from a peak of 870 in June. This downward trend is consistent with what we normally see at this time of year, so no surprises. The number of active listings should continue downward until early in 2012.

Sales for June of single family homes rebounded nicely compared to last year. There were 52 single family home sales in June 2010 and 74 sales in June 2011 which is a pleasant surprise.

The sales to listing ratio for single family homes in June, 2011 hit 9% which is encouraging especially when you consider that we were averaging 6% for the last 5 months!

More buyer activity is a welcome trend and one that I predicted in last months market update article titled “The buyers are coming, the buyers are coming!” Hopefully, this activity will carry over to the rest of the year with similar or better numbers. Stay tuned market watchers!