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 - September 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: 11.96

Central: 7.12%

Shuswap:  11.61%

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: 64

Central: 56

Shuswap: 64

Active Listings:

North: 1504

Central: 4230

Shuswap: 1189

Benchmark Price:

North:

Single Family:  $764,100

Townhouse:     $604,800

Apartment:    $326,100

Central:

Single Family:  $1,018,100

Townhouse:     $725,200

Apartment:    $505,600

Shuswap:

Single Family:  $735,000

Townhouse:     $569,700

Apartment:    $422,200

Lakefront Sales (Year to date):

North Okanagan Waterfront Home Sales:  14

Central Okanagan Waterfront Home Sales: 30

Shuswap Waterfront Home Sales: 27

Okanagan Shuswap Overall Statistics:

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

North: 260

Central: 1046

Shuswap: 148

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

North: 111

Central: 286

Shuswap: 103

Wrap Up:

Sellers:

As we enter the height of Autumn, the real estate market can be as varied and diverse as the foliage. September brought with it a decrease in listings all across the board, which is likely more of an indication of the season than a change in the market. However, sales numbers stayed relatively stable.. Whether this is an indication of longer term, or simply a reflection of the time of year, 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.  

In a buyer's market, understanding your position and edge above the competition is important. If you're currently listed or considering listing your property, our new video "Selling your home: Beauty Contest vs Price War" may be of interest to you!

Buyers:

This September we witnessed a more modest turnout of listings than we have seen in a while, along with an unseasonably stable number of sales. Although there are still a healthy amount of listings on the market, if there is a particular property you have has your eyes on, this could be your sign to move ahead while you still have an edge. 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 second video in our series: "First Time Buyer Bootcamp" Is a must see!

Here is our feature listing of the month, a Vernon townhome in the desirable Creeks community. View our listing video for #9 3508 24 Avenue 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