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Updated Stats for Residential Homes in the Okanagan Shuswap - October 2024
Sell/Inventory Ratio (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.):
North: 16.96
Central: 12.61%
Shuswap: 13.15%
Active Listings:
North: 1361
Central: 3927
Shuswap: 1003
Benchmark Price:
North:
Single Family: $767,455
Townhouse: $604,800
Apartment: $326,100
Central:
Single Family: $1,086,399
Townhouse: $725,200
Apartment: $505,600
Shuswap:
Single Family: $773,415
Townhouse: $569,700
Apartment: $422,200
Lakefront Sales (Year to date):
North Okanagan Waterfront Home Sales: 18
Central Okanagan Waterfront Home Sales: 33
Shuswap Waterfront Home Sales: 29
Okanagan Shuswap Overall Statistics:
Total Units that were newly LISTED (and active on the market):
North: 247
Central: 934
Shuswap: 147
Total Units SOLD (all property types including raw land and commercial):
North: 156
Central: 409
Shuswap: 101
Wrap Up:
As October settles in and autumn colors peak, the real estate market reflects this seasonal shift. September saw fewer listings overall—a seasonal trend rather than a market shift. However, sales numbers remained steady, hinting at potential buyer interest. Whether this signals a longer-term trend or just the effects of fall, now might be the perfect moment to strategize with your agent. From refreshed staging to a refined pricing approach, it's a great time to map out your game plan with an experienced listing agent.
In a buyer's market, we're diving deep into the common traps that many home sellers fall into. These mistakes can cost you dearly, both in time and money, in today's ever-evolving housing market. From overpricing your property to the subtleties of staging, we've got you covered with practical advice and real-world examples. If you're currently listed or considering listing your property, our new video "Why buying a larger home in a market downturn makes sense." may be of interest to you!
This October we witnessed a more modest turnout of listings than we have seen in a while, along with an unseasonably stable number of sales. Although there are still a healthy amount of listings on the market, if there is a particular property you have has your eyes on, this could be your sign to move ahead while you still have an edge. In order to get a competitive price on a desirable property, you need your financing in order and a real estate expert to guide you in your journey. Reach out to our office today to get started!
If you're in the market for your first home, the third video in our series: "First Time Buyer Bootcamp" Is a must see!
Please subscribe to our YouTube Channel Vernon BC Real Estate by Salt Fowler so that you can stay informed right away on videos that can help you in your real estate journey, whether you are buying or selling.
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.
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About the Author: The article above, Real Estate Market Update, was provided by Lisa Salt, an authority on Vernon BC, Okanagan and Shuswap 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 Okanagan Shuswap 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: Vernon, Armstrong, Enderby, Lake Country, Lumby, Westside and Salmon Arm/Shuswap.
Call or Text 250-549-7258 or email webinfo@saltfowler.com
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