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 - December 2022
Sell/Inventory Ratio: 12.80% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)
Days to Sell:
65 (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.)
815 (versus 532 in 2021)
Average List Price:
Single Family: $717,100
North Okanagan Lakefront Sales:
Waterfront Home Sales:
17 Waterfront homes sold this year to date.
There are 14 waterfront homes currently on the market versus 8 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:
Total Units SOLD (all property types including raw land and commercial) during each of the past 3 months:
We closed out another great year for the Okanagan Real Estate Market with fairly average active listing and sales numbers for this season. However, we saw both an increase in prices and a significant decrease in new listings, which could be good news for your property if you are willing to offer a competitive list price. If you are considering listing your property, now could be the time to get into the game and talk strategy with a knowledgeable listing agent today.
If you're currently listed or thinking about listing, our new video "The 4 Best Return on Investment Home Improvements" may be of interest to you!
Buyers, another year in the Okanagan Market ends with fairly typical stats as far as sales and new listings are concerned. However, the current amount of active listings is quite high, signifying that you as the buyer has the leverage. In order to get a great price or a leg up on a desirable property, you need a real estate expert to guide you in your journey, reach out to our office today to get started!
If you're currently in the market for a new property, our new video "The Home Buyer Cooling Off Period Explained." may be of interest to you!
Here is our feature listing of the month, a gorgeous property located at The Watermark at The Rise. View our listing video for 128 Silversage Terrace 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.