Sunday, April 14, 2013

What's up in the Okanagan?

Not a lot...except for MOI.

High MOIs based on the latest March numbers.

Central Okanagan has a sales inventory ratio of 10.02%. ie 10.02% of the houses listed got sold...or a MOI of 10

Shushwap/Revelstoke has a sales/inventory ratio of 4%. MOI is 25

North Okanagan 7%. MOI is  14.

Now for the Ok sales grind to a halt in late fall and winter. We are however coming into peak buying season, so if the MOIs do not drop down soon, I would expect even more pressure on their market.

The sales are well down from last March as you can read from the rather sombre President's comments. The only thing that saved them from critically high MOIs was the fact that inventory declined 5% from last March.