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 - June 2023
Sell/Inventory Ratio: 30.14% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)
Days to Sell:
46 (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.)
1183 (versus 901 in 2022)
Average List Price:
Single Family: $785,800
North Okanagan Lakefront Sales:
Waterfront Home Sales:
10 Waterfront homes sold this year to date.
There are 23 waterfront homes currently on the market versus 20 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:
June: 227 (versus 202 in 2022!)
June reminded us that it is still a great time to be a seller. For the first time in months, the booming sales numbers rose above the sales for this month last year, which is a great indication in the strength of the market. However, new listings were also significant for June, so it is continually important to strategize how to make your property stand out. 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 homeowner in this summer heat, our new video "10 Smart Ways to Slash Air Conditioning Bills" should be of interest to you!
This market is surely keeping buyers on their toes, with an abundance of properties regularly hitting the market then getting sold just as quickly. June was a perfect example, with nearly 400 properties newly listed during the month and a whopping 227 sales with averaging merely 46 days to sell. It is clear, 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 decide where to concentrate your search, our video "Lakefront Living in the Okanagan" may be of interest to you!
Here is our feature listing of the month, a freshly renovated home in Lavington. View our listing video for 5684 Learmouth 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 helped thouands 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.