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 - September 2022

Sell/Inventory Ratio: 20.63% (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.)

Days to Sell:

51 (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.)

Active Listings:

991 (versus 767 in 2021!)

Average List Price:

$801,877

Benchmark Price:

Single Family:  $731,800

Townhouse:     $572,500

Apartment:    $324,100

North Okanagan Lakefront Sales:

Waterfront Home Sales:

13 Waterfront homes sold this year to date.  

Waterfront Home Listings:

There are 22 waterfront homes currently on the market versus 12 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:

July: 363

August: 332 

September: 268

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

July: 170

August: 150

September: 135

Wrap Up:

Sellers: 

Now comes the time when we enter into what is traditionally considered a slower period for the real estate market, when we expect to see less impressive statistics, and being a seller with an active listing on the market can feel a bit more stressful. However, have no fear Sellers, we are still experiencing a reasonably healthy market for selling, albeit you must be sharp on your price to effect a sale, so 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 selling and considering moving into a new property smaller than your current one, our new video "Downsizing To A Smaller Home." might be of interest to you!

 

Buyers:

Buyers, the leaves may be starting to change and the market may be starting to slow down for the year, but this month we still saw healthy listing numbers for a September. Which means, there could still be the opportunity to get you into the home of your dreams for the holidays or at least before interest rates increase even more. However, 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 looking for a bit of entertainment, a distraction from the market doldrums, or just a new insight into the area's best coffee shops, our new video  "Realtors in Coffee Shops getting Coffee." might be interesting to you!

Here is our feature listing of the month, a potential filled property with a renovated home and flat, usable acreage. View our listing video for 8935 Kalamalka 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.  

Call 250-549-7258, Text 250-309-9586 or email webinfo@saltfowler.com.