Market Update – Here’s What Happened in February 2020
Of note, townhome sale pricing had declined in January but is now back in the green in February, with a 10% price increase and almost 9% over February 2019. With the average sale price over $500,000 this gives us a good indication of what’s to come for the rest of the year. In fact, over the past two years we haven’t seen the average townhome sale price over $500,000 until the spring market hits.
In February, we SOLD 790 Barnaby Road! It was the highest priced Single Family Home Sale in the Central Okanagan so far in 2020! We are certain the new buyers are going to love this home! Congratulations. Across property types, sale prices are robust which bodes well for the rest of the year.
As always, if you have questions on what’s happening in the market or would like us to go more detail into what’s happening where you live or want to live, get in touch! We love helping to ensure our clients have a good handle on their real estate investment.