The Okanagan shows signs of continuing strength

Housing Prices Soar

by Wayne Moore - Story: 26662
Feb. 12, 2007 / 10:00 am

The cost of purchasing a home in the Central Okanagan continues to rise.

According to figures released by the Okanagan Mainline Real Estate Board, the median house price in the Central Okanagan has climbed nearly 8% in the past month.

The median house price is $406,000, compared to $379,500 in December, 2006.

Meantime, the number of homes sold in January dropped, while the total value of those homes and the number of listings increased, in comparison to January, 2006.

Home sales dropped 6.7% in January, however, the dollar amount increased more than 9% and listings increased better than 11%.

Mobile home prices nearly doubled over the past year. Townhouses increased almost 45% while acreages showed a 37% increase.

Figures cover the area from Peachland to Lake Country.