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Just Released! North Okanagan Market Update for June 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 - June 2022

Sell/Inventory Ratio: 34.21% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)


Days to Sell:

34 (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:

901 (versus 808 in 2021)


Average List Price:

$832,930 (For the first time in months, this number hasn't risen above the month before!)


Benchmark Price:

Single Family:  $798.500

Townhouse:     $597,500

Apartment:    $335,000

North Okanagan Lakefront Sales:

Waterfront Home Sales:

9 Waterfront homes sold this year to date.  

Waterfront Home Listings:

There are 20 waterfront homes currently on the market versus 14 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:


April: 436

May: 436

June: 407


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


April: 257

May: 231

June: 203


Wrap Up:


Sellers: 

It's an interesting time to be a seller.  As with both April and May, June proved to show less remarkable stats than its namesake in 2021. With both new listing and property sales numbers slowly decreasing and listing prices also dropping, it is possible that the market is slowly normalizing. However, we are still seeing very healthy days to sell numbers and listing prices, so 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 about to list your home, our new video "How to Stage Your Home Before Professional Photos" will likely be of particular interest to you!



Buyers:

Buyers, you've been waiting so long, and now it may be your time to shine. With new listing stats still very healthy, and sales numbers dropping steadily, this is a great time to enter the market. However, 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 looking to buy or simply curious about the Vernon community, our new video, "Living in Vernon BC vs San Jose CA", in our 'Moving To" series might be interesting to you!




Here is our feature listing of the month, a magnificent Lake and Mountain view estate! View our listing video for 366 Kildare Way 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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