Market Update Nov 2023

With only one more month to finish the year, we now have a good idea how the Similkameen real estate market fared so far in 2023. The data shows that unit sales have fizzled out compared to last year as interest rates continue to be a big challenge for potential buyers.

November is the first month in 2023 where listing inventory has fallen as listings that don’t sell, often expire and remain off market for the winter season.

Although Princeton experienced improved sales numbers for November compared to last year, this made up for a lacklustre October. Add October and November together, and you will still see a market trending downward compared to 2022 (-36%).

Stay tuned for a year-in-review for the Princeton / Similkameen real estate market and what is anticipated for 2024.

Lee Mowry - Century 21 Horizon West Realty