Market Update for Vernon Real Estate for April 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:   

26.99%  (this is how much of what is currently on the market sold last month)

Days to Sell:  

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

Avg. Sale Price:  

$510,372 (averages can be skewed by a few really high, or really low $$ sales)

Median Sale Price:  

$460,250 (the exact middle sale price of every residential property sold last month)

Waterfront Home Sales: 

4 waterfront homes sold year to date (exact same number as 2017)

North Okanagan overall statistics:

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

Feb:        217

Mar:       380

Apr:       391

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

Feb:      131

Mar:     178

Apr:      190

Wrap Up:

Sellers and Buyers: The new real estate rules and changes to the Real Estate Services Act will hit on June 15, 2018.  Be prepared for many, many changes when you view/offer/purchase/sell any real estate in this province.  We will keep you posted on the many changes!

We can help get you to the newest listings first, often before other Realtors or the public hear about them with our unique Buyer Profile System – sign up to View Thousands of Homes right here!

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.

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