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 - June 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: 14.93%

Central: 11.01%

Shuswap:  12.63%

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: 60

Central: 50

Shuswap: 46

Active Listings:

North: 1498

Central: 4144

Shuswap: 1128

Benchmark Price:

North:

Single Family:  $752,400

Townhouse:     $564,500

Apartment:    $312,400

Central:

Single Family:  $1,009,200

Townhouse:     $717,000

Apartment:    $489,300

Shuswap:

Single Family:  $753,200

Townhouse:     $532,200

Apartment:    $406,800

Lakefront Sales (Year to date):

North Okanagan Waterfront Home Sales:  6

Central Okanagan Waterfront Home Sales: 17

Shuswap Waterfront Home Sales: 14

Okanagan Shuswap Overall Statistics:

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

North: 419

Central: 1335

Shuswap: 273

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

North: 183

Central: 429

Shuswap: 106

Wrap Up:

Sellers:

With listing numbers continually on the rise, and sales numbers staying the same or decreasing, we are entering a more challenging time for sellers. 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.  

If you're currently listed or considering listing your property, our new video "Top 7 Home Selling Mistakes." may be of interest to you!

Buyers:

For the active home buyer, the market in June was in your corner. With strong listing numbers, longer selling periods, and less competition out there to drive up prices, now is your chance to get a leg up on the property of your dreams. 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 a property in a waterfront community and having trouble finding something to fit your needs, our new video "Okanagan Landing: 3 new Developments." may be of interest to you!

Here is our feature listing of the month, a charming Mission Hill home. View our listing video for 2113 34 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.  

__________________________________

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