Just Released! North Okanagan Real Estate Market Update for February 2023


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 - February 2023

Sell/Inventory Ratio: 20.33% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)

Days to Sell:

79 (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:

853 (versus 547 in 2021)

Average List Price:


Benchmark Price:

Single Family:  $708,600

Townhouse:     $591,900

Apartment:    $310,900

North Okanagan Lakefront Sales:

Waterfront Home Sales:

2 Waterfront homes sold this year to date.  

Waterfront Home Listings:

There are 15 waterfront homes currently on the market versus 5 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:

December: 101

January: 203

February:  209

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

December: 68

January: 64

February: 106

Wrap Up:


No reason to fret yet, Sellers. This month saw a significant increase in sales, alongside less than impressive numbers for new listings. When looked at concurrently, these statistics could suggest a strengthening market for sellers. 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 and thinking about downsizing, our new video "Downsizing your Home to a Smaller Home." may be of interest to you!


Dear Buyers, we had a very promising start to the year, with big growth in listing numbers and slowing sales. Interestingly, February numbers are showing lower new listings and higher sales, not always the best news for prospective buyers. The good news is that there are still a good amount of properties on the market, and new ones hitting daily. 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 and curious to see how far your budget can get you, our video "The 10 Least Expensive Homes in 2022" may be of interest to you!

Here is our feature listing of the month, a charming waterfront A-frame. View our listing video for 413 Shorts 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


No comments

Post Your Comment:

Your email will not be published
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.