Do you want content like this delivered to your inbox?
Share
Share

2017 Property Sales in Silver Star, Vernon, BC

Brenda Ellis

Brenda Ellis, most frequently known as Brell, is a partner, mom, grammie, friend and a REALTOR® you’ll want to connect with...

Brenda Ellis, most frequently known as Brell, is a partner, mom, grammie, friend and a REALTOR® you’ll want to connect with...

Oct 29 4 minutes read

Here is our neighbourhood real estate report for 2017 at Silver Star Mountain.  The market here has been slower to recover - but is fairly active now - with many strata properties going into multiple offer competitions.  Note that land sales have also occurred - which bodes well for the future.

Status: Sold (72)


List Price

Sold Price

DOM

Beds

Total Baths

Finished Floor Area

Min

$118,000

$115,000

1


1


Max

$1,190,000

$1,025,000

915

7

6

4361

Avg

$381,619

$369,166

190

2

2

1227

Sum

$27,476,594

$26,579,966





Criteria:  


MLS is 'OMREB'

Major Area is 'North Okanagan'

Sub-Area is 'SS - Silver Star'

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 20 homes, 36 apartments, 10 townhouses, and 6 land property sales.

Silver Star 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 Silver Star sub area or neighbourhood with the North Okanagan zone.  

From 2011 to mid 2015 sellers almost always faced absorptions rate of 5 years 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 12 months supply in some months!


Historic Look At Silver Star 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 - and unlike the rest of the area - more sales in the Winter months overall.

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. Clearly 2016 saw a  downward shift in the number of potential sellers in this neighbourhood. 

Historic Median / Average Days On Market Trends for Silver Star Residential Sale 


 This chart shows the comparison between the average days a property was on the market. ( From Activation to Final Subject Removal) . Silver Star properties generally need more time on the market to get sold - but you can see the trend to shorter list periods began in 2015 and in 2017 if properties were priced right they sold FAST.

Historic Median Sale Price Trend for Silver Star 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. Because of the variety of sizes and types of properties sold at Silver Star the measure of the middle of the market is not as meaningful as it is in other neighbourhoods. It is mandatory to evaluate the properties that sold to gain understanding of the true TRENDS.

Thank you for taking the time to look at our Silver Star 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 Silver Star.

Cheers!

Chris, Brent, Shelby, & Brell
REALTORS
® along with the amazing
Diane, Kendra, Natalya and Yania 

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info

Terms of Use

This website is operated by Chris Holm Associates/Chris Holm, REALTOR®, a Salesperson who is a member of The Canadian Real Estate Association (CREA). The content on this website is owned or controlled by CREA. By accessing this website, the user agrees to be bound by these terms of use as amended from time to time, and agrees that these terms of use constitute a binding contract between the user, Chris Holm Associates/Chris Holm, REALTOR®, and CREA.

Copyright

The content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically prohibited. Prohibited uses include commercial use, “screen scraping”, “database scraping”, and any other activity intended to collect, store, reorganize or manipulate the content of this website.

Trademarks

REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA’s By-Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the professional real estate services provided by members of CREA.

Liability and Warranty Disclaimer

The information contained on this website is based in whole or in part on information that is provided by members of CREA, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members, and assumes no responsibility for its completeness or accuracy.

Amendments

Chris Holm Associates/Chris Holm, REALTOR® may at any time amend these Terms of Use by updating this posting. All users of this site are bound by these amendments should they wish to continue accessing the website, and should therefore periodically visit this page to review any and all such amendments.