author Call/Text Patrick: (250) 486-2529

Farm Properties are HOT HOT HOT

MARKET UPDATE:

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

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Patrick Murphy

My knowledge of Real Estate combined with my local upbringing here has enabled me to do what I love, where I love to live! This has rounded out my vision for a positive lifestyle combination of family, faith and small town living in Summerland.

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