Keremeos Real Estate Update

Keremeos BC Real Estate Market Update: May 2, 2023

The real estate market in Keremeos, BC saw a mixed performance ending April 2023, with some metrics increasing while others decreased. Here's a closer look at the latest Keremeos BC real estate stats:

Listings

There were 46 new listings added to the market in April 2023, which is a 15% increase compared to the same month last year. This suggests that more homeowners are listing their properties for sale.

Property Sales

Keremeos reported 22 property sales year-to-date. That's a decrease of -33% compared to last year. This decline in property sales may be attributed to a decrease in buyer demand as financing becomes more challenging to obtain.

Average Sale Price

Despite lower metrics, the average sale price in Keremeos, BC increased by 12% compared to last year, reaching $551,655 in April 2023. This increase in average sale price suggests that there may be a limited supply of homes available in the market, driving up prices.

Active Listings

There were 82 active listings in Keremeos, BC at the end of April 2023. This represents an increase in inventory compared to the same month last year, which could lead to a more balanced market for buyers and sellers.

Conclusion

Overall, the real estate market in Keremeos, BC showed mixed results in April 2023. While there was an increase in new listings and the average sale price, there was a decrease in property sales. It's important to note that these trends can be influenced by many factors, including the local economy, seasonal fluctuations, and broader market conditions. As always, it's important to consult with your Century 21 Horizon West Realty professional to understand the specifics of the market and how they may impact your individual buying or selling strategy.