May 2024 Update
Sales in May for the Powell River residential real estate market were up slightly to 34 from 32 the previous month. Single family homes dropped off from 28 to 20 in May but the gap was filled in by 14 sales of condos and mobiles. There have been several new condo developments in the past few years so there is more variety including some quite high end options. The lower price ranges in sales generally have been more active recently. New listings fell off from 72 in April to 63 but generally, the availability of homes to buy is quite good with 173 properties available. The three month rolling average price was about $673,000 and has been reasonably steady for the past few months. The market has been balanced for the past 4 months favoring neither buyers nor sellers. I’m not expecting any big spikes in either direction in the next several months. Another interest rate drop is predicted for this year and that may push sales upward.