Market Update Nov 2023
Posted on Nov 30, 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 listin...
November is the first month in 2023 where listing inventory has fallen as listin...
Princeton Real Estate Year in Review 2023
Posted on Nov 30, 2023
Highlights
- Year-to-date property sales are down -27% compared to 2022
- Average sale price is down -7% compared to 2022
- 35% of all new listings sold year-to-date
- Lowest unit sales numbers in a decade
- Expect a flat real estate market for 2024
- Interest rates remain a top concern for first half of 2024
- A surge in population growth will continue to affect housi...
Legislative Changes to Housing in BC
Posted on Nov 16, 2023
Short-Term Rentals:
Only a few weeks ago the provincial government announced new legislation to comprehensively change how short-term rentals are regulated. The new regulations are intended to give municipalities and the province more power to regulate short-term rentals across the province. The new legislation will:
- As of May 2024, limit short-term...