How to Okanagan Investment Revenue Commercial Real Estate Kelowna Penticton Update Raymond MAASKE
For Immediate Release
Okanagan Housing Market Remains Brisk
KELOWNA, B.C. – August 2nd, 2016. Residential sales in the Okanagan moderated slightly in July,
compared to previous months, with sales of 1042 units posted to the Multiple Listing Service (MLS®),
down 17.5% from June sales but still a 20% increase over July of last year reports the Okanagan Mainline
Real Estate Board (OMREB).
“While fewer units sold last month as compared to June, the average price remained comparable as did
the days to sell, indicating that conditions across the entire region OMREB serves, spanning Peachland
to Revelstoke, are still very much favouring the seller,” says Anthony Bastiaanssen, OMREB President
and active REALTOR® in the central Okanagan.
“The volume of prospective buyers continues to outstrip the number of available properties, and we are
unlikely to see much of a shift in market conditions until more product becomes available,” adds
Bastiaanssen, noting that the number of active listings also dropped across the entire region served by
OMREB, with the total representing a 22.83% decrease as compared to this time last year.
Bastiaanssen comments that every real estate market has unique conditions that can pose challenges
for both buyers and sellers. “In this market, the entire transaction process can be severely compacted,
which can add stress for all concerned,” says Bastiaanssen. “Because timeframes can be very tight, a
key success factor for both buyers and sellers is working with a professional who can provide expert
advice ‘on the fly’ while staying on top of everything that is going on so that critical steps don’t get
missed and errors are avoided.”
So who are the buyers that are contributing to these lively market conditions? June results from a
survey of buyers shows that 56% of purchasers are from within the Okanagan, with 18% from the Lower
Mainland or Vancouver Island and 12% from Alberta.
How to Okanagan Investment Revenue Commercial Real Estate Kelowna Penticton Update Raymond MAASKE 250.878.2218 Investment Real Estate Expert
Investment, commercial, revenue, properties Real Estate, Penticton, Okanagan, Kelowna, Update, Market, How to,
Raymond MAASKE, is an accountant and licensed real estate broker with considerable experience in commercial and residential Real Estate. He has owned and managed a wide range of businesses and continues to build solid relationships with businesses and BUYERS & SELLERS.
Investment Real Estate Expert, TerraCorp Real Estate Services
250.878.2218 | RaymondMAASKE@gmail.com | TerraCorpRealEstateServices.com | Skype: raymond.maaske | Okanagan, British Columbia, Canada