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 - November 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: 16.01%

Central: 9.82%

Shuswap:  12.61%

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: 75

Central: 70

Shuswap: 68

Active Listings:

North: 1196

Central: 3637

Shuswap: 852

Benchmark Price:

North:

Single Family:  $761,800

Townhouse:     $621,900

Apartment:    $309,300

Central:

Single Family:  $1,013,400

Townhouse:     $726,400

Apartment:    $476,400

Shuswap:

Single Family:  $724,000

Townhouse:     $578,500

Apartment:    $397,700

Average Prices (Residential):

North: $733,434

Central: $1,064,556

Shuswap: $785,774

Lakefront Sales (Year to date):

North Okanagan Waterfront Home Sales:  19

Central Okanagan Waterfront Home Sales: 33

Shuswap Waterfront Home Sales: 31

Okanagan Shuswap Overall Statistics:

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

North: 216

Central: 736

Shuswap: 94

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

North: 128

Central: 333

Shuswap: 64

Wrap Up:

Sellers:

Sellers, November brought along with it an early gift for the holidays. With sales up over 10% overall, the market is continuing to trend in your favor, especially for those putting their best foot forward with a competitive pricing strategy and solid marketing. 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. 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 still unsure about where you're headed after that sale, our new video "The Seasons Community." could be an interesting watch for you!

Buyers:

With interest rates dropping and continuing to drop into the New Year, options are expanding for buyers currently in the market for a new home. These cuts could open you up to a new price bracket or allow you to reconsider a home formally out of your range. Now is more important than ever to get 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 new video, "Interest Rate Cuts: A Gamechanger for Buyers." will definitely be of interest to you!

Here is our feature listing of the month, a single family home in Coldstream. View our listing video for 11708 Palfrey Drive 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