In the world of real estate, the historical Winter slowdown never really
occurred this year. January was up over last year and February
continues the trend. Single Family sales for February rose 5% over 2015
and sales of all real estate rose a whopping 18% over February last year.
Other interesting stats are: Average Days on Market has dropped to just
66 days, the number of new listings has dropped from 932 in February
2015 to 861 this year and average and median prices are up across the
board. The average residential house price is up 16% over February
2015 to $552,761 with the median price up 15% to $519,500. The trend
seems pretty clear in the Central Okanagan with 2016 looking to continue
the growth cycle we have seen the last couple of years.