Real estate sales in the South Okanagan rose 12% in March from sales in the same month last year, according to a report by the South Okanagan Real Estate Board (SOREB).
A total of 160 units were sold in the South Okanagan in March, up from 142 in 2019.
As for the total number of active registrations, SOREB declared 1803 for March 2020, an increase of 5.3% compared to the 1713 registrations of last March.
Despite the increase in sales, SOREB President Lyndi Cruickshank said the market is slowing – probably due to COVID-19.
“Although the data cannot fully capture it, local market activity has cooled before what should have been a spring bloom in light of the pandemic,” said Cruickshank in the SOREB report. “This will continue as we all adjust to a new normal, but in the meantime, the need to help buyers and sellers who were in the middle of the process of buying or selling a home is still a very real reality . “
Cruickshank continued to say that SOREB members are doing everything they can to mitigate the spread of COVID-19 while continuing to serve customers.
“There are also those who cannot wait for this situation and who need the assistance of a real estate professional,” she said.
SOREB is made up of 304 real estate agents who are members of the Canadian Real Estate Association.
For more information on real estate listings, buying and selling homes in Canada, visit REALTOR.ca or for specific information on the South Okanagan, visit soreb.org