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Just Released! North Okanagan Market Update for April 2022

   


This North Okanagan Real Estate Update covers the areas of: Vernon, Coldstream, Falkland, Armstrong, Enderby and Lumby.

Updated Stats for Residential Homes in the North Okanagan - April 2022

Sell/Inventory Ratio: 48.90% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)


Days to Sell:

24 (how many days on average it is taking to sell a home. Please note this does not include additional time on the market of any listings that expired or were canceled and then re-listed.)


Active Listings:

690 (versus 783 in 2021, most likely simply a reflection of lower inventory.)


Average List Price:

$827,147 (versus $759,000, clearly showing that as inventory declines, our prices continue to rise!)


Benchmark Price:

Single Family:  $788,600

Townhouse:     $514,900

Apartment:    $353,400

North Okanagan Lakefront Sales:

Waterfront Home Sales:

4 Waterfront homes sold this year to date.  

Waterfront Home Listings:

There are 11 waterfront homes currently on the market versus 10 on the market same time last year. 

North Okanagan Overall Statistics:

Total Units that were newly LISTED (and active on the market) during each of the past 3 months:


February: 283

March: 390

April: 436


Total Units SOLD (all property types including raw land and commercial) during each of the past 3 months:


February: 194

March: 281

April: 257


Wrap Up:


Sellers: 

As we enter into the warmest months of the year and the hottest time for the Real Estate Market, we are seeing a solid increase both in new listings and prospective buyers. With prices continuing to increase, a competitive listing price could be what your property needs to set it apart from the others. So, If you are considering listing your property, now is the time to get ahead of the game and talk strategy with a knowledgeable listing agent today.  


If you're a current or prospective resident of the Okanagan and curious about the changing season, our new video might be interesting to you!



Buyers:

Buyers, this is your moment. This month we saw a healthy number of new listings hit the market, and as we continue into the Spring and Summer months this will undoubtedly continue. If you are new to the search or have been looking for a while in this unprecedented market, this could finally be your opportunity to secure a property of your dreams. If you haven't already, now is the time to find a real estate expert to guide you in your journey, reach out to our office today to get started. 


If you're looking to buy in the area, or simply interested in learning more about what Vernon has to offer, check out our video: "Why Move to Vernon BC."




Here is our feature listing of the month, a breathtaking waterfront Estate on Mara Lake! View our listing video for 643 Swanbeach Road here:



If you are wanting to buy, call us and we can work together to get you access to that elusive 10% of homes that are not currently on the market.  One of them may just be the perfect home for you.  Reach out to Salt Fowler today. and "Just Add Salt".  Being first in line in this competitive market is key.  


Call 250-549-7258, Text 250-309-9586 or email webinfo@saltfowler.com. 

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