Close up woman doing finance at home office with calculate expenses.
The Bank of Canada released its review of the financial system Thursday and warned that it was important to remain vigilant to the risk of household indebtedness.
The bank said that while the mortgage stress test and interest rate hikes have slowed household borrowing and improved credit quality, there are still high levels of indebtedness and a large portion is held by households that are highly indebted.
Enjoy the afternoon sun and the views of the hills
• 990 sqft , 2 bath , 2 bdrm townhouse – FOR SALE CAD259,900 . Level entry 2 bedroom townhome MLS® 178236
In Main Town, Summerland – Level entry 2 bedroom townhome at Quinpool Patio Homes. Enjoy the afternoon sun and the views of the hills from the covered West facing deck and gardens at the front. This home features a spacious living area open to the kitchen and dining area. The large master bedroom has a two piece ensuite and the second bedroom has a murphy bed. Plenty of storage in this home and a lot of natural light with the two skylights. A bonus is the partially unfinished basement which is perfect for the handyman plus additional storage space in the attached crawl space. This home also features a single carport. 55+, pet upon strata approval.
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Royal
Experience Okanagan living in one of four new townhomes
• 1635 sqft , 3 bath , 2 bdrm 3 story – FOR SALE CAD599,900 . Another extraordinary residential project! MLS® 178069
in Uplands/ Redlands, Penticton – Beach House Developments is offering another extraordinary residential project! Experience Okanagan living in one of four new townhomes in one of the best locations in Penticton. One block from the KVR trail; gather with friends at Mile Zero Wine Bar or Cannery Brewery a few blocks away. Minutes to the beach or the downtown Famer’s Market. Striking exterior architectural design with contemporary interiors. Double car attached garage with parking on driveway. 1,635 sq ft, 2 bedroom & den & 2 & a half baths. Retreat to the spacious master bedroom with large walk-in closet & large spa like ensuite with double vanity sinks. Bright second bedroom with its own 4 pce ensuite. 9′ ceilings on main and upper floors. Glass & stainless steel railings. Open main floor plan with huge island with seating and bar. Quartz countertops throughout. Includes main floor balcony and enclosed private yard. Low maintenance living with a fully landscaped/irrigated yard. Under construction. GST not included.
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Experience Okanagan living in one of 4 new townhomes
• 1615 sqft , 3 bath , 2 bdrm 3 story – FOR SALE CAD559,900 . Another extraordinary residential project! MLS® 178066
in Uplands/ Redlands, Penticton – Beach House Developments is offering another extraordinary residential project! Experience Okanagan living in one of 4 new townhomes in one of the best locations in Penticton. 1 block from the KVR trail; gather with friends at Mile Zero Wine Bar or Cannery Brewery a few blocks away. Minutes to the beach or downtown Famer’s Market. Striking exterior architectural design with contemporary interiors. Oversized single car attached garage with parking on driveway. 1,615 sq ft, 2 bd & den & 2 & a half bths. Retreat to the spacious master bd with large walk-in closet & large spa like ensuite with double vanity sinks. Bright second bd with its own 4 pce ensuite. 9′ ceilings on main & upper floors. Glass & stainless steel railings. Open main floor plan with huge island with and bar area w/double pantries. Quartz countertops throughout. Includes main floor balcony & enclosed private yard. Low maintenance living with a fully landscaped/irrigated yard. Under construction. GST not included.
Click here for: Property information
Experience Okanagan living in one of 4 new townhomes in one of the best locations in Penticton.
• 1615 sqft , 3 bath , 2 bdrm 3 story – FOR SALE CAD559,900 . another extraordinary residential project!
MLS® 178068
in Uplands/ Redlands, Penticton – Beach House Developments is offering another extraordinary residential project! Experience Okanagan living in one of 4 new townhomes in one of the best locations in Penticton. 1 block from the KVR trail; gather with friends at Mile Zero Wine Bar or Cannery Brewery a few blocks away. Minutes to the beach or downtown Famer’s Market. Striking exterior architectural design with contemporary interiors. Oversized single car attached garage with parking on driveway. 1,615 sq ft, 2 bd & den & 2 & a half bths. Retreat to the spacious master bd with large walk-in closet & large spa like ensuite with double vanity sinks. Bright second bd with its own 4 pce ensuite. 9′ ceilings on main & upper floors. Glass & stainless steel railings. Open main floor plan with huge island with and bar area w/double pantries. Quartz countertops throughout. Includes main floor balcony & enclosed private yard. Low maintenance living with a fully landscaped/irrigated yard. Under construction. GST not included.
Click here for: Property information
Experience Okanagan living
• 1615 sqft , 3 bath , 2 bdrm 3 story – FOR SALE CAD559,900 . another extraordinary residential project! MLS® 178068
in Uplands/ Redlands, Penticton – Beach House Developments is offering another extraordinary residential project! Experience Okanagan living in one of 4 new townhomes in one of the best locations in Penticton. 1 block from the KVR trail; gather with friends at Mile Zero Wine Bar or Cannery Brewery a few blocks away. Minutes to the beach or downtown Famer’s Market. Striking exterior architectural design with contemporary interiors. Oversized single car attached garage with parking on driveway. 1,615 sq ft, 2 bd & den & 2 & a half bths. Retreat to the spacious master bd with large walk-in closet & large spa like ensuite with double vanity sinks. Bright second bd with its own 4 pce ensuite. 9′ ceilings on main & upper floors. Glass & stainless steel railings. Open main floor plan with huge island with and bar area w/double pantries. Quartz countertops throughout. Includes main floor balcony & enclosed private yard. Low maintenance living with a fully landscaped/irrigated yard. Under construction. GST not included.
Click here for: Property information
Experience Okanagan living i
• 1635 sqft , 3 bath , 2 bdrm 3 story – FOR SALE CAD599,900 . An extraordinary residential project MLS® 178065
in Penticton Main North, Penticton – Beach House Developments is offering another extraordinary residential project! Experience Okanagan living in one of four new townhomes in one of the best locations in Penticton. One block from the KVR trail; gather with friends at Mile Zero Wine Bar or Cannery Brewery a few blocks away. Minutes to the beach or the downtown Famer’s Market. Striking exterior architectural design with contemporary interiors. Double car attached garage with parking on driveway. 1,635 sq ft, 2 bedroom & den & 2 & a half baths. Retreat to the spacious master bedroom with large walk-in closet & large spa like ensuite with double vanity sinks. Bright second bedroom with its own 4 pce ensuite. 9′ ceilings on main and upper floors. Glass & stainless steel railings. Open main floor plan with huge island with seating and bar. Quartz countertops throughout. Includes main floor balcony and enclosed private yard. Low maintenance living with a fully landscaped/irrigated yard. Under construction. GST not included.
Click here for: Property information
The number of homes sold through the MLS® System of the South Okanagan Real Estate Board totaled 128 units in March 2019. This was down 28.1% from March 2018 and was a little below the 10-year average for the month.
On a year-to-date basis, home sales totalled 296 units over the first three months of the year a decline of 35.5% from the same period in 2018.
“Looking past the monthly ups and downs, the bigger picture so far in 2019 is one of average supply and average demand, with sales running in between the lows of the 2009-2013 period and the highs of more recent years,” said Dori Lionello, President of the South Okanagan Real Estate Board. “The slowdown in demand that began about a year ago, along with a normalization in supply has put the market back into well balanced territory compared to the sellers’ market conditions of the last few years.”
The average price of homes sold in March 2019 was $380,166, edging up 1.1% from March 2018.
The more comprehensive year-to-date average price was $386,023, down 2.6% from the first three months of 2018.
The dollar value of all home sales in March 2019 was $48.7 million, falling 27.3% from the same month in 2018.
There were 334 new residential listings in March 2019, up 3.7% (12 listings) on a year-over-year basis.
Active residential listings numbered 1,158 units at the end of March, up 36.6% from the end of March 2018. The long-term average for supply at this time of the year is a little over 1,200 listings.
Months of inventory numbered 9 at the end of March 2019, up from the 4.8 months recorded at the end of March 2018 and very close to the long-run average of 9.3 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
Sales of all property types numbered 142 units in March 2019, a decline of 31.4% from March 2018. The total value of all properties sold was $54.5 million, falling 41.9% from March 2018.
Home sales in the Northern Region numbered 21 units in March 2019. This was an increase of 16.7% (three sales) from March 2018. The average price of homes sold in the Northern Region for March 2019 was $289,977, up 57.7% from March 2018. That said, averages can suffer increased volatility with smaller sample sizes.