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 - October 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: 16.96%

Central: 12.61%

Shuswap:  13.15%

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: 85

Central: 61

Shuswap: 84

Active Listings:

North: 1361

Central: 3927

Shuswap: 1003

Average Prices (Residential):

North: $767,455

Central: $1,086,399

Shuswap: $773,415

Lakefront Sales (Year to date):

North Okanagan Waterfront Home Sales:  18

Central Okanagan Waterfront Home Sales: 33

Shuswap Waterfront Home Sales: 29

Okanagan Shuswap Overall Statistics:

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

North: 247

Central: 934

Shuswap: 147

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

North: 156

Central: 409

Shuswap: 101

Wrap Up:

Sellers:

This October brought along with it the predictable shift in weather and temperatures, however what it also brought was an unseasonably steady month in the Real Estate Market. This month we witnessed a positive increase in sales for all three areas in comparison to last year. It's too early to tell if this is an indication of a shift towards a sellers market or just a lucky month for many, so it is important to stay ahead of the game. It may be the time to have a discussion with your agent about the best way to get buyers to zero in on your home. It could be time for new staging, or a pricing strategy. Either way, now is the time to talk game plan with a pro listing agent today.  

If you're currently listed or considering listing your property and deliberating over listing price, our new video "What $500,000 will get you: Single Family vs Townhouse" may be of interest to you!

Buyers:

The temperatures are dropping, however the new listing numbers for October stayed relatively stable in comparison to last month. This could likely be more of a sign of the season than the market, so no need to worry yet as buyers. However, in order to get a competitive price on a desirable property, you need your financing in order and a real estate expert to guide you in your journey. Reach out to our office today to get started!

If you're in the market for your first home, the third video in our series: "First Time Buyer Bootcamp" Is a must see!

Here is our feature listing of the month, a single family home in East Hill. View our listing video for 1404 12th Street 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