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Just Released! Real Estate Market Update for January 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 - January 2022

Sell/Inventory Ratio: 64.04% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)


Days to Sell:

52 (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.)


Benchmark Price:

Single Family:  $711,600

Townhouse:     $460,100

Apartment:      $326,400

North Okanagan Lakefront Sales:

Waterfront Home Sales:

1 waterfront home sold this year to date.  

Waterfront Home Listings:

There are only 7 waterfront homes currently on the market versus 18 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:


November: 222

December: 119 

January: 184


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


November: 229

December: 158

January: 150


Wrap Up:


Sellers: 

We opened the New Year with a month of quite average numbers as far as the market is concerned, with both sales and new listings at over 10 perfect below last year's numbers. However, the buyers are still out there and chomping at the bit to get their hands on new listings in 2022, so if you are still considering listing your property, it might be a good idea to get things moving while the market is still mellow. Further, with low interest rates, this is your chance to capitalize on a quick sale with a price likely above what you may have anticipated. 


If you're searching for further motivation for listing your home in this unique market, please watch our new video:  "10 Most Expensive Houses that Sold in 2021."



Buyers:

The beginning of a New Year can be so refreshing, and as a potential buyer the start of a new calendar can bring along with it the potential for finding your dream home. We don't know yet what 2022 will bring as far as the market is concerned, and after the past two years of unprecedented numbers it is really anyone's guess. However, with sales at the low end to start the year, it is looking somewhat possible that things could return more in your favor, or at least to a more level playing field. If you haven't already, now is the time to get ahead of the game and find a real estate expert to guide you in your journey, reach out to our office today to get started. 


If you're house shopping or considering starting, and trying to narrow down your area of search, check out our new video "Where is the best city to live in the Okanagan?" 




Here is our feature listing of the month at the fabulous Adventure Bay for $1,399,999, a gorgeous property with unobstructed views and access to all the many resort amenities. View our listing video for 8808 Oxford 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 webinfo@saltfowler.com. 

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