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 2023
Sell/Inventory Ratio: 23.38% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)
Days to Sell:
48 (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:
1036 (versus 690 in 2022)
Average List Price:
$831,090
Benchmark Price:
Single Family: $764,400
Townhouse: $575,600
Apartment: $334,100
North Okanagan Lakefront Sales:
Waterfront Home Sales:
5 Waterfront homes sold this year to date.
There are 18 waterfront homes currently on the market versus 11 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: 209
March: 368
April: 353
Total Units SOLD (all property types including raw land and commercial) during each of the past 3 months:
February: 106
March: 148
April: 168
Wrap Up:
As the weather warms up and the summer season comes closer, we continue to see a healthy increase in new listings every month, with April being no exception. However, sales are also growing, and we are seeing the most in demand properties leaving the market swiftly. The buyers are out there and looking, but if your home has been on the market now may be the time to have a discussion with your agent about the best way to get buyers to zero in on your property. 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 or thinking about listing and want a quick checkup on the market, our "Market Snapshot." may be of interest to you!
It is a great time to be a buyer, and with new listings in April reaching over the 4-digit mark, you are slowly but surely regaining the ability to become more choosy in your home search. However, competitively priced and in-demand listings are being sold quickly, so 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 and trying to narrow down an area within the Okanagan, our video "Is It Better to Live in Vernon or Coldstream?" may be of interest to you!
Here is our feature listing of the month, a beautiful home in a gated community. 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.
Call or Text 250-549-7258 or email webinfo@saltfowler.com.
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