Okanagan BC Real Estate: Everything You Need to Know
The Okanagan valley’s extreme desirability means that the real estate market here tends to be stronger than other parts of the province. Many experts call it a “bubble free zone” with more predictable stability than an overheated market like Vancouver’s.
A Good Time to Buy
Although available inventory in the Okanagan has begun to trend lower, this is still considered a buyer’s market. The economy in BC and Alberta is forecast to strengthen later in 2013 through 2014, with sales activity here expected to increase as a result. According to the Okanagan Mainline Real Estate Board, the MLS® average residential price will increase by 0.8% this year to $381,100, and then rise another 1.2% to $385,500 in 2014. With prices from $305,000 for a home in a lakefront community, a place at The Cottages is a good buy.