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 - March 2023
Sell/Inventory Ratio: 20.00% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)
Days to Sell:
56 (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.)
963 (versus 587 in 2022)
Average List Price:
Single Family: $728,000
North Okanagan Lakefront Sales:
Waterfront Home Sales:
3 Waterfront homes sold this year to date.
There are 14 waterfront homes currently on the market versus 4 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:
As we enter into the height of the Real Estate season, this month brought along a massive amount of new listings. The good news is, the buyers are still out there and they are ready to go. However, if you are already listed or considering listing, it is more important than ever to think about ways to make your property stand out in the crowd. Whether that means a competitive price or advertising strategy, now is the time to talk game plan with a pro listing agent today.
If you're currently listed and thinking about where you might like to relocate to, our new video "Love Where you Live : The Foothills." may be of interest to you!
Buyers, it is safe to say that your time has come. With an incredible number of new listings on the market, there is plenty of inventory to find what you're looking for. However, the time it takes for properties to sell once they are listed is lower than usual, so there's no time to waste. 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 Canadian property from outside the country, our video "The Foreign Buy Ban on Canadian Real Estate Explained" may be of interest to you!
Here is our feature listing of the month, a walkout rancher with spectacular views. View our listing video for #27 9196 Tronson 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.