Residential real estate sales across the region from Revelstoke to Eastgate Manning Park and into the South Peace River region saw a decrease in sales despite very high demand that is still outpacing supply, reports the Association of Interior REALTORS®.
“We live in a very desirable region, so it’s no surprise that high buyer demand has remained consistent into the summer months,” says the Association of Interior REALTORS® President Kim Heizmann, adding that “while sales are down compared to last month, this is likely due to lack of inventory coupled with normal seasonality of the real estate market.”
Residential sales for the month of July for the entire Association region totalled 1,143, a decrease of 17% from June’s unusually high 1,381 sales. The year-over-year comparison showed a decrease of 20% from July 2020’s total sales of 1,428.