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 - January 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: 9.93%

Central:  9.23%

Shuswap:  15.63%

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: 94

Central: 76

Shuswap: 94

Active Listings:

North: 951

Central: 2563

Shuswap: 584

Benchmark Price:

North:

Single Family:  $728,100

Townhouse:     $610,100

Apartment:    $325,100

Central:

Single Family:  $989,800

Townhouse:     $728,000

Apartment:    $485,400

Shuswap:

Single Family:  $655,200

Townhouse:     $581,700

Apartment:    $406,300

Lakefront Sales (Year to date):

North Okanagan Waterfront Home Sales:  0 

Central Okanagan Waterfront Home Sales: 3

Shuswap Waterfront Home Sales: 1

Okanagan Shuswap Overall Statistics:

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

North: 218

Central: 712

Shuswap: 103

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

North: 77

Central: 218

Shuswap: 60

Wrap Up:

Sellers: 

If January is an indicator for the remainder of 2024, we are looking at another strong year for the Real Estate Market! Total sales numbers were up over 15 percent in all three areas (North Okanagan, Central Okanagan, and Shuswap) with numbers reaching nearly 21 percent over 2023 in the North. New listing numbers were also up in most areas (with the exception of Shuswap), which could signal some strong competition in the market. 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 competition. 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're a current resident of Vernon and looking to be a tourst in your own backyard, our video "Discover Vernon's Hidden Treasures" may be of interest to you!

Buyers:

A New Year can be an exciting time for potential buyers looking for a new home, and January certainly performed in that regard. With new listing numbers up in both North Okanagan and Shuswap, things are looking good for those searching. However, the sales numbers were out of the roof and the competition is 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 currently searching for your first home and curious about life in the Okanagan, our video "Do NOT move to Vernon. You'll Hate It!" may be of interest to you!

Here is our feature listing of the month, a modern home in the Foothills. View our listing video for 1425 Copper Mountain Court 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