Peachland POST YOUR COMMUNITY NEWSPAPER
The week of January 10, 2025
RESERVOIR RESERVATIONS Water supply estimates based on old data P.6
ARTS SCENE Get the skinny on what’s happening on the creative side of life P.8
Visit our website at peachlandpost.org • Vol. 1 Issue 2
ABOUT TOWN Find out what’s going on and where it’s happening P.11
REAL ESTATE MARKET
FROM BAD TO - NOT SO BAD?
AMAZING MOSAIC No talent required to join this colourful community project P.3
NEW-BORN NOMENCLATURE
Peachland’s real estate market suffered through a tough year, but 2025 is showing signs of life
By Jeff McDonald
F
Staff Reporter
or people trying to sell a property in Peachland, 2024 was the worst market in thirty years, according to peachlandliving.com. Just 87 homes changed hands last year, down from 112 sales in 2023, 170 in 2022, and 269 in 2021, the website says. The total value of Peachland real estate transactions was just under $74 million last year, down from close to $92 million in 2023 and close to $187 million in 2022. And not a single commercial property changed hands in 2024 in Peachland. Others have a more nuanced view. Jason Coward, a realtor with Royal Lepage West Kelowna, says there’s no question the market was tough in 2024, with the benchmark price for homes also down.
2024 was a tough year for real estate sales in Peachland.
“Throughout the whole Central Okanagan, 2024 is going to go down as one of the quietest years for real estate in recent history in the number of sales,“ said Coward. “If we go back to January 1, 2023, the benchmark price for a single family home was $857,800. And then at the peak in June 2023, it went as high as a $1,009,900.
And now, we find ourselves at the end of 2024, down to $944,000.“ Another indicator of a slow market is the number of days a property takes to sell, and Coward, who is also a Peachland resident, said last year that number ranged from the low 50s to the mid-70s. Several factors have thrown cold water on the residential market, and Coward said consumer confidence is key, with the high cost of living in many people’s minds when considering a property purchase. “I have clients from all over the country that are looking to the Okanagan as a place to retire, and what I am hearing from them is basically cost of living,” he said. “Everything from a block of cheese to gas that they put in their tank, it’s all contributing to tighter
Baby naming is serious business.
Sorry Noah, Oliver now top of the baby name heap
Move over, Noah. Oliver is the most popular name for babies born this year in British Columbia. Oliver is followed by Olivia, Liam, Noah, Theodore, Charlotte, Lucas, Isla, Amelia and Leo, according to the Vital Statistics Agency’s preliminary figures for 2024. In 2023, the top names B.C. were Noah, Oliver, Olivia, Theodore, Liam, Jack, Emma, Sophia, Ethan and Leo. At least 38,103 babies were registered as born in B.C. in 2024.
SEE REAL ESTATE PAGE 7
Post Staff
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