Vernon Real Estate Market Update for May 2018

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:

Sell/Inventory Ratio:   

29.87%  (this is how much of what is currently on the market sold last month)

Days to Sell:  

65 (how many days on average it is taking to sell a home)

Avg. Sale Price:  

$521,558 (averages can be skewed by a few really high, or really low $$ sales)

Median Sale Price:  

$475,238 (the exact middle sale price of every residential property sold last month)

Waterfront Home Sales: 

6 waterfront home sold year to date (the exact same as last year)

North Okanagan overall statistics:

Total Units that were newly LISTED (and active on the market) during each of the past 3 months:

Mar:       380

Apr:       391

May:     489

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

Mar:     178

Apr:      190

May:     237

Wrap Up:

Sellers:  The market is definitely changing.  The government interference in terms of the speculation tax, coupled with the pipeline issues and softening real estate prices in the urban centres has caused Vernon/Okanagan sales to decline for the fourth month in a row.  The over million dollar price range has seen significant increases in inventory plus a decline in sales, although homes below the $550,000 mark still seem to be exceptionally popular and are still experiencing multiple offers.

The new real estate rules are a serious learning curve for buyers, sellers and realtors alike.  There are 26 new forms, 2 of which you will become very familiar with as sellers. If you have your home listed for sale right now, you will be introduced to them very shortly. More on that later!

We are still doing our part to reverse the Speculation Tax.  Please sign the petition here if you haven’t already!

Sign the Petition to Stop the BC Speculation Tax Here

Write your MLA here in just a few clicks, to fight the BC Speculation Tax

Buyers:  Inventory of homes on the market has already increased 4 months in a row.  This month 2018 finally caught back up to 2017 numbers with 1420 total listings on the market compared to 1429 last year at this time.  This is combined with a 22.5% decrease in sales.  For buyers, this means more choices of homes on the market and eventually less in the way of multiple offers (price range dependent, of course).

If you would like to get access to MLS listings 24/7 on your own time, click here to get brand new listings in your inbox every morning!

Please feel free to Contact Us Anytime:  Lisa, Gord, Glenn, Alex, Joanne, Greg, Avrill and Christie of the Salt Fowler Team, RE/MAX Vernon – specializing in North Okanagan and Vernon BC Real Estate.

Congratulations Alex Wambold – Salt Fowler Team Top Salesperson for May 2018

The Salt Fowler Team is proud to honour Alex Wambold as their Top Salesperson for the month of May 2018.

Real Estate has always been a passion for Alex and her enthusiasm to help others with a professional attitude has provided her with success.

Lisa, Gord and the rest of the Salt Fowler Team congratulate Alex on his recent accomplishment and wish his more success in his career!  To contact Alex directly, you can email his at alex@saltfowler.com or call 250-308-9472.

Let him help make your Okanagan dreams come true!

For those living in the North Okanagan, watch your mailboxes!

For those living in the North Okanagan, watch your mailboxes! This is going to be delivered via Canada Post direct to your home very soon. If you find your contact info is incorrect please do let us know and we are happy to update this for you.

Any questions, please don’t hesitate to contact the Salt Fowler Team at RE/MAX Vernon at 250-549-SALT (7258) or webinfo@saltfowler.com, your Kalview homes specialists! We offer FREE Market Evaluations on all Vernon Real Estate!

For those living in the Middleton Mountain, watch your mailboxes!

For those living in the Middleton Mountain, watch your mailboxes! This is going to be delivered via Canada Post direct to your home very soon. If you find your contact info is incorrect please do let us know and we are happy to update this for you.

Any questions, please don’t hesitate to contact the Salt Fowler Team at RE/MAX Vernon at 250-549-SALT (7258) or webinfo@saltfowler.com, your Kalview homes specialists! We offer FREE Market Evaluations on all Vernon Real Estate!

Just Released!! Our Kalview Area Market Update for June!

Just Released!! Our Kalview Area Market Update for June! Here is a preview of our folder featuring homes and lots for sale and sold in the popular Kalview area of Coldstream BC. This folder will be mailed out in the next 10 days! If you are interested in selling your home and having it advertised in this popular marketing piece, please let us know! We would be happy to feature your Kalview, Coldstream Real Estate here! Contact the Salt Fowler Team at 250-549-SALT (7258) or visit our website to view thousands of Vernon homes for sale online all in one place at www.KalviewHomes.com.