A typical November month in the Real Estate market tends to be a slower one. Despite the sales volume decreasing and the generous amount of inventory, the benchmark sale price has come down only a moderate amount. Sellers are continuing to stick to yesterday’s prices, while buyers are preferring to wait for tomorrow’s promise of lower prices. The peak of the real estate market activity was in March 2022, when the benchmark sale price for single family homes was $1,129,000. If we compare that to benchmark sale price for November 2022- which is $1,013,800- we can see that it has dropped 10.2%. 
The benchmark sale price for townhouses dropped 0.15% since March, and as for apartments- it has dropped 8.2% (roughly).

As you can see from the Peachland market statistics- only a couple sales occurred, yet the benchmark price remained similar to the previous month. The apartment statistics are based off of two higher priced sales, so it isn’t an accurate representation.