Friday, June 9, 2023 7:00:20 PM UTC
Sale or No Sale: Nightmare Scenarios REALTORS® Must Avoid

For REALTORS®, the business of residential real estate is almost always upbeat. It’s positive vibes only when guiding people who are buying or selling homes. Smiling is mandatory during interactions, as all agents want to make the journey result in a happy ending, with satisfied clients who will hopefully have long memories. For buyers and…

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The Power Broker Interview: Donny Samson Shares How a Focus on Learning and Recruiting Supported Success in 2022

Editor’s Note: RISMedia recently released its 2023 Top 1,000 Power Brokers, exclusively for RISMedia Premier Members. In this special interview series, we talk to some of our top-ranking brokers to garner their insights and strategies for sustaining their firms’ success. For more information, click here.  For Samson Properties based in Chantilly, Virginia and covering markets…

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How Top Producers Leverage the Power of Digital Marketing

Word of mouth and referrals, while valuable, can only take you so far in the real estate industry. Digital marketing is no longer new and uncharted territory in the space. It has become a necessary avenue to grow a business, so if you haven’t gotten on board already, you need to. If you want to…

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Mortgage Mix: Mega-Lender Sued for Harassment; Foreclosures Rise

–Mortgage rates dropped slightly after a sharp rise at the end of May, according to the latest report from Freddie Mac. Falling eight basis points from a six-month high to 6.71%, homebuyers are still feeling the affordability squeeze, with another Fed meeting on the horizon.  -At the same time, mortgage applications fell for the fourth…

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Preparing Now for What’s Next in Real Estate: A Special Message from RISMedia CEO John Featherston

As we move into the summer market, it’s time to take action to propel your business through the end of the year and into 2024. This special message from RISMedia CEO John Featherston offers an exclusive preview of just some of the hundreds of industry leaders that will be on hand to educate and network…

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Okanagan Market Update

Local Residential Real Estate Market Heading In The Right Direction

KELOWNA, B.C. – June 2nd, 2020. Residential sales across the region of Revelstoke to Peachland increased 95% totaling 446 units sold in May compared to April’s 299 unit yet remained down 42% from this time last year reports the Okanagan Mainline Real Estate Board (OMREB).


New residential listings also saw an uptick totaling 1,198, an increase of 49% compared to last month’s new listings. Overall active listings increased 9% over April’s inventory of 3,467 yet remained 16% lower than April 2019’s
inventory of 4,490.


“While we are still in the midst of a global pandemic it is encouraging to see that residential sales are moving at an upward trajectory,” says OMREB President Kim Heizmann, adding that “we are starting to see a return to real estate activity which looks promising for the future, however we remain cautious about predicting future outcomes as many economic factors will have impacts.”


“Virtual tours and alternative technological solutions have ensured that real estate transactions can continue to transpire responsibly.”


The average number of days to sell a home increased from 83 days to 91 days. It is important to note that OMREB reports on all market statistics for the entire Board region and that the indicators will vary depending on home type and sub-region.


Whether you are a buyer or a seller, it’s always a good idea to work with a REALTOR® who will protect your interests on such a significant financial transaction.


More info on the Okanagan Mainline Real Estate Board Here

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Categories:   Kelowna
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.