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 - November 2022
Sell/Inventory Ratio: 20.78% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)
Days to Sell:
49 (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.)
912 (versus 650 in 2021!)
Average List Price:
Single Family: $710,200
North Okanagan Lakefront Sales:
Waterfront Home Sales:
17 Waterfront homes sold this year to date.
There are 16 waterfront homes currently on the market versus 10 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:
With the holidays and winter in full force, lower listing and sales numbers are to be expected. This December was no exception, with data showing a significant decrease over last year yet quite average in comparison to multiple years prior. However, sale prices continue to stay strong and a competitive list price could go a long way. If you are considering listing your property, now could be the time to get into the game and talk strategy with a knowledgeable listing agent today.
If you're currently listed or simply a homeowner looking for ways to prepare your home for the upcoming change in season, our new video "16 tips to get your home ready for Fall" may be of interest to you!
Buyers, things are looking up! With strong new listings and low sales numbers, this market is slowly yet steadily moving back into your favor. However, it is impossible to tell how long this trend will continue, so if you're serious about buying then now could be your time to act. 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 trying to narrow down your search, our new video "Why move to Vernon BC 2," the second in our series may be of interest to you!
Here is our feature listing of the month, a single-family home close to Kalamalka Lake. View our listing video for 882 Mt. Bulman Place 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.