Are you looking to buy or sell property in Carp or Summerland? Then you’ve come to the right place! As we close out the month of May, it’s time to take a look at the real estate market in these two areas. In this blog post, we'll be discussing the market trends for houses and condos in Carp and Summerland. Whether you're a first-time homebuyer or an experienced real estate investor, you'll find the information in this update to be informative and valuable.

Let's start with houses. As of the end of May, 14 active listings were present on the market, a few more than the previous month, but not significantly high. However, there were 6 sales in May with homes being sold within just 17 days of being listed on the market. Moreover, these homes were sold just a hair over the list price and the median sale price was $3,000,000. This is a significant jump from what we saw last month. It’s typical to see wide variations with this area because of the diversity of price points.

Now, let's move on to condos. There were 5 condos on the market, which is about the same as the previous month. Just like houses, condos had 6 sales in May, and they sold within just 8 days of being listed on the market. The sale prices were just a hair below the list price, and the median sale price was $849,000, up from the last month and last May. It's impressive to see the consistency of sale prices, regardless of property type.

In addition, the past year has seen a significant increase in property values in Carp and Summerland. The prices of houses have gone up by 14% in Carp and about 16% in Summerland. On the other hand, the prices of condos have gone up by 16% in Carp and a whopping 25% in Summerland. This clearly indicates a growing demand for properties in these areas.

Moreover, it's worth noting that interest rates are expected to remain low for the foreseeable future, which means that it's still a great time to buy property. With low-interest rates, buyers can save a significant amount of money in the long run.

In conclusion, Carp and Summerland have seen great growth in the real estate market in May. The consistent median sale prices and a higher value than last year are clear indicators of a growing demand for property in the area. If you're looking to buy or sell property in Carp and Summerland, this is a great time. We hope this update has helped you make informed decisions about your investment in real estate. Keep an eye out for our next update, where we'll share more information about South County districts' markets in June.