Here is our overview of what happened in 2017 in the Alexis Park neighbourhood
2017 Property Sales in Alexis Park, Vernon, BC
|Status: Sold (76)|
|List Price||Sold Price||DOM||Beds||Total Baths||Finished Floor Area|
MLS is 'OMREB'
Major Area is 'North Okanagan'
Sub-Area is 'AP - Alexis Park'
Sold Date is 1/1/2017 to 12/31/2017
Property Type is one of 'Single Family Residential', 'Strata', 'Manufactured Home', 'Lots and Acreages', 'Recreation'
The property mix in this report contains 25 homes, 10 apartments, and 41 townhouses.
Time frame for the chart above is from Jan 2011 to Dec 2017 and it depicts the absorption rate of real estate specific to the Alexis Park sub area or neighbourhood with the North Okanagan zone.
From 2011 to mid 2014 sellers almost always faced absorptions rate of 5 months or more based on the number of properties on the market compared to the number of sales. Fast forward to 2017 where there was less than 3 months supply most of the time!
Historic Look At Alexis Park Real Estate Sales Volume
This chart reflects the MLS® property sales by month. The trend line shows clearly that sales volume has climbed steadily - although the jagged variation shows the seasonal nature of Okanagan real estate sales activity - with lower volumes in the winter months.
Historic Trend of Active Listings
You can see that the number of properties brought to the market in recent years is trending downward. The first chart we showed you - the absorption rate - is a direct result of the reduction of properties coming to market in combination with the second chart - which shows the increase in properties SOLD.
Historic Median / Average Days On Market Trends for Alexis Park Residential Sale
This chart shows the comparison between the average days a property was on the market. ( From Activation to Final Subject Removal) . Alexis Park properties generally need more time on the market to get sold - but you can see that toward the end of 2017 properties priced right were moving faster than prior to 2016.
Historic Median Sale Price Trend for Alexis Park Residential Sales
The chart above shows the upward trend of the Median (middle of the market) sale price by month over the last 7 years. In 2011 the middle of the market was under $200,000 half the time, whereas it was over $250,000 one quarter of the time in 2017 and above $300,000 twice.
Thank you for taking the time to look at our Alexis Park Spall market synopsis. Please feel free to share it with your friends and neighbours, and especially anyone you may know that might be looking for help selling or buying in Alexis Park.
Chris, Brent, Shelby, & Brell
REALTORS® along with the amazing
Diane, Kendra, Natalya and Yania