Farm Properties are HOT HOT HOT
South Okanagan Farm properties:
Year to date MLS data of farms in Penticton, Naramata, Kaleden/OK Falls and Summerland.
A balanced market with 34 properties sold and 38 active listings.
By far the biggest indicator is that there are 11 farms sold for less than $800,000 and only one active listing for under $800,000. Clearly there is very strong demand for farm properties under $800 and clearly there is (literally) no supply of farms under $800.
In fact, there are only SEVEN active farms for sale that are priced under ONE MILLION dollars.
So, with heavy demand and very limited supply, we see a recipe for a sellers market, which means…its difficult to buy. Simple as that.
For specific property information, including on my own beautiful listing downtown Summerland for just over $1.5, call or text direct: 250 486 2529