Salmon Valley Falkland Key Performance Indicator Review 2017
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 Salmon Valley Falkland sub area or neighbourhood with the North Okanagan zone.
In the fall of 2012 sellers faced an absorption rate of almost 5 years - based on the number of properties on the market compared to the number of sales. Fast forward to 2017 where there was less than 6 months supply almost half of the time!2017
Property Sales in Salmon Valley Falkland & Spallumcheen Overview
Status: Sold (42)
Finished Floor Area
MLS is 'OMREB'
Major Area is 'North Okanagan'
Sub-Area is 'SF - Salmon Vly / Falkland'
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 35 homes, 3 manufactured homes, 3 land property sales, and 1 recreation property.
Historic Look At Salmon Valley Falkland 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 Listings Activated
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 Salmon Valley Falkland Residential Sale
This chart shows the comparison between the average days a property was on the market. ( From Activation to Final Subject Removal) . Salmon Valley Falkland 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 quickly.Historic Median
Sale Price Trend for Salmon Valley Falkland 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 $300,00 more than half the time, whereas it was over $375,000 over half of the time in 2017!
Thank you for taking the time to look at our Salmon Valley Falkland 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 Salmon Valley Falkland.
Chris, Brent, Shelby, & Brell
REALTORS® along with the amazing
Diane, Kendra, Natalya and Yania