Just Released! Real Estate Market Update for August 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 - August 2023

Sell/Inventory Ratio: 16.54% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)

Days to Sell:

63 (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:

1226 (versus 1029 in 2022)

Average List Price:


Benchmark Price:

Single Family:  $763,100

Townhouse:     $576,400

Apartment:    $350,400

North Okanagan Lakefront Sales:

Waterfront Home Sales:

14 Waterfront homes sold this year to date.  

Waterfront Home Listings:

There are 26 waterfront homes currently on the market versus 24 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:

June: 398

July: 329

August: 321

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

June: 227 

July: 168

August: 167

Wrap Up:


If consistency is key, than the North Okanagan Real Estate Market is doing just fine. With total sales at just 1 property under July, August showed to be a very stabile and solid month, particularly when considering the 11 percent increase over sales in August of 2022. However, these strong times may not last, so 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. Whether that means a price adjustment or advertising strategy, now is the time to talk game plan with a pro listing agent today.  

If you're a current resident of the Okanagan, our new video "Top 3 Community Events in Vernon BC for September" may be of interest to you!


With total listings once again significantly up over last year, the greatest news for buyers is that the inventory is out there. Further, pricing seems to have slowed down in comparison to the dramatic increases in the last few months. However, sales are still very strong, so in order to get a price you can afford 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 your first home and concerned about interest rates, our video "Rate Lock Protection" may be of interest to you!

Here is our feature listing of the month, a lakefront home that has been entirely renovated. View our listing video for 9131 Smith 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.  


About the Author: The article above, Just Released! Real Estate Market Update for June 2023, was provided by Lisa Salt, an authority on Vernon BC and area real estate and a leader in the field of real estate blogging and vlogging.  Lisa and her group have helped literally thousands of families buy and sell homes since 1993. 

Looking to buy a home in the Vernon/North Okanagan area?  Check out "Everything You Need to Know About Buying a Home" article. It’s free of charge and will save you a ton of time!

Looking to sell?  We use the latest technology to get our clients’ homes sold quickly and for as much money as possible.

We help people buy and sell real estate in the following Okanagan/Shuswap areas: VernonArmstrongEnderbyLake CountryLumbyWestside and Salmon Arm/Shuswap.

Call or Text 250-549-7258 or email


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