November 2024 Update
Sales in the Powell River residential real estate market were up from October (21) to 25 in the month of November. Often, once the winter season decline starts sales continue to fall through January until the spring market. An uptick this past month suggests a bit of optimism supporting predictions that we’re in for a busier market quite soon. A change of government in the USA, may have introduced a bit of uncertainty into those predictions. December, with its festivities, isn’t usually a good indicator of what’s ahead, but the January numbers may tell us what we can expect for 2025. Total inventory at 184 is down but still in solid territory while new listings for the month were also a solid 53. We’re not lacking in homes to buy. The six month rolling average price, an attempt to moderate the wide fluctuation in monthly prices, shows a slight uptick to $654,146 after a fairly slow, but steady decline for the past year or so. We’re still in a buyers market and have been for six months. If we get into that busier market, that may change and stop or reverse the price decline. It may not be the most convenient time of year, but it’s probably a good time to get a good price