I am very impressed by the market condition in the Okanagan this month.
Development projects are again buzzing with buyer interest, and there is a discernable uptick of buyer activity in small town Summerland as well.
Year to date the Summerland MLS statistics are the strongest in 5 years, building upon the foundational base of the previous 24 months of stable demand.
Our office is now seeing some competing offers come into play for well priced product. In particular, there has been a real uptick on properties priced over $500,000, with an average of one per week sold year to date, which is very positive for the local market, and is putting a serious dent on supply.
We are clearly sensing that opportunity time is back, and wanted to take steps to ensure you are informed, sooner rather than later. In particular, we have a 22acre parcel that is currently zoned for 6 to 8 Country Residential lots that will be reduced this week from the current $639,900 to under $600,000.
We wanted to let you be among the first to know of this upcoming price change in hopes you will be positioned to make a decisive move on it.
Patrick Murphy 250 486 2529
PS Here are some points from expert interview on CNBC.COM
Housing affordability is at a record.
New home construction is extremely low relative to household formation and demographic trends.
There will be a lot of pent up demand that will be unleashed.
The economics of home ownership is tilted away from renting.
Decisivie turn positive for job creation is taking place.
Mortgage rates are at generational lows.
Doug Kass interviewed on CNBC.COM
And, have a quick look enjoy these high end golf course homes, again from CNBC