This Okanagan Shuswap Real Estate Update covers the areas of Greater Vernon and the North Okanagan, Kelowna and Central Okanagan as well as Salmon Arm and the Shuswap.

Updated Stats for Residential Homes in the Okanagan Shuswap - March 2024

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

North: 13.78%

Central: 12.39%

Shuswap:  15.34%

Days to Sell (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.):

North: 73

Central: 63

Shuswap: 71

Active Listings:

North: 1220

Central: 3372

Shuswap: 815

Benchmark Price:

North:

Single Family:  $716,500

Townhouse:     $552,300

Apartment:    $332,500

Central:

Single Family:  $968,600

Townhouse:     $719,600

Apartment:    $496,000

Shuswap:

Single Family:  $680,700

Townhouse:     $526,400

Apartment:    $413,500

Lakefront Sales (Year to date):

North Okanagan Waterfront Home Sales:  1

Central Okanagan Waterfront Home Sales: 5

Shuswap Waterfront Home Sales: 5

Okanagan Shuswap Overall Statistics:

Total Units that were newly LISTED (and active on the market):

North: 336

Central: 1391

Shuswap: 301

Total Units SOLD (all property types including raw land and commercial):

North: 105

Central: 334

Shuswap: 74

Wrap Up:

Sellers: 

March offered solid consistency all across the board in comparison to February of this year. Sales numbers are still going strong, but have dipped down a bit below sales in March of 2023. However, it is clear this market is heating up and listing numbers are growing. If your home has been listed for a while now, it may be the time to have a discussion with your agent about the best way to get buyers to zero in and stand out among the rest. 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 have a pet and you're currently listed or considering listing your home and want to learn about how to keep your home attractive to buyers, our video "Smart Home Selling with Pets" may be of interest to you!

Buyers:

New listing numbers continued to thrive and grow in both the Central and Shuswap areas, while staying fairly steady in North Okanagan. This is once again good news for potential buyers, as the inventory is out there. However, the competition is also still out there, so in order to get a price you can afford 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 a pet owner new to the home buying process and want to learn about finding a great home for you and your furry loved one, our video "Finding a Pet Friendly Home." may be of interest to you!

Here is our feature listing of the month, a private and peaceful home in a rural setting. View our listing video for 4574 Larkin X 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.  

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About the Author: The article above, Real Estate Market Update, was provided by Lisa Salt, an authority on Vernon BC, Okanagan and Shuswap and area real estate and a leader in the field of real estate blogging and vlogging.  Lisa and her group have helped literally thousands of families buy and sell homes since 1993. 

Looking to buy a home in the Okanagan Shuswap 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.

We help people buy and sell real estate in the following Okanagan/Shuswap areas: Vernon, Armstrong, Enderby, Lake Country, Lumby, Westside and Salmon Arm/Shuswap.

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