The market is assessing the impact of Coronavirus. The impact in the Okanagan may not be significant but the luxury-vacation market in the region will be affected indirectly from by the collapse of oil prices for Alberta and a significant potential drop in foreign buyer activity in Vancouver. The impact may not be as strong as some fear.
Okanagan Valley home prices have moderated recently when compared to 2016 and 2017.
Buyer interest picked up in the second half of 2019 for all property types.
Owners of houses appear to be reluctant to sell - there fewer "FOR SALE" signs on lawns.
The market for all property types is still in balance. In other words, sellers and buyers have equal negotiating power.
