July 2023 Market Update
Our Market Momentum Meter now indicates a consistent trend, revealing a balanced market in the South Okanagan with equal opportunities for buyers and sellers. This comes as a relief after experiencing unpredictable market shifts and a persistent shortage of available properties. Despite the limited inventory, the current market conditions provide a fair playing field for individuals interested in buying or selling their homes.
Seller’s market = four months of inventory or less
Balanced market = four to six months of inventory
Buyer’s market = six months or more of inventory
If 100 active listings are available in a month, and 20 homes sold in the that
same month, then there is approximately 5 months of inventory.
