Hot Flash - Inventory Levels In the Okanagan Shuswap - Feb. 17, 2009
Inventories continued to rise in most sectors of Okanagan Shuswap Real Estate today. The Chart below shows the change in the various areas and market sectors:
As one would expect, the Central Okanagan shows the most "listing" activity with 95 properties seeing change in status. Leading the way were residential isting activations, with 35 properties listed today in the Central Okanagan, followed by Price Changes on 31 residential properties. Four properties Sold today while a further six received accepted offers now pending subject removal. Ten properties left the market - with 7 listings expiring and 3 listings being withdrawn from the market. The cumulative result of the status changes leaves the Central Okanagan with 17 more Residential, 6 more Strata Properties and more lot/acreage on the market than there was yesterday.
In the North Okanagan , there are 6 more Residential and 4 more Strata Properties available for purchase, while the inventory of lots remains unchanged. Listings and Price changes topped the activity chart in the North Okanagan as well, with 14 properties listed and 9 having price changes. 3 properties left the market, with 1 listing expiring and 2 properties being withdrawn. Five properties sold in the North Okanagan today, and 1 is noted as having an offer pending.
The Shuswap Region showed the smallest change and the only decline in inventory, with two less strata properties available, 3 more residential properties and 1 more lot / acreage on the market than yesterday. Six properties were listed and 4 had price changes in the Shuswap. One property Sold in the Shuswap area, but no properties noted offers pending.
We will continue to watch inventory levels, as the amount of available inventory is the biggest single factor on price levels.