Vernon Foothills

The Okanagan Mainline Real Estate Board has released the sales statistics for March 2008. The North Okanagan region (like most other areas in Canada) are showing a slowdown in the number of sales and an increase in number of listings. Anecdotal reports from talking to realtors indicate that this slowdown has continued into April. Active listings in the North Okanagan for March 2008 were up 32% over March 2007 while the number of units sold dropped 30%. I expect we’ll see some downward pressure on prices if this slowing trend continue.

You can get the full results by visiting their site: http://www.omreb.com/index2.htm