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Shuswap Real Estate Market June 2018

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 3 minutes read

PLEASE NOTE: Average prices indicate market trending only. They do not reflect actual prices which vary from house to house and area to area. The Median sale price is the midpoint of sales during the month. The Average and Median Sold Prices are for Single Family Homes and do not include Residential Waterfront Properties.

How's The Market?

We pulled this chart from the OMREB database. It reflects the months of inventory and market status for Single family homes in the Shuswap.  The Shuswap is the only zone in our region what is currently trending into Sellers Market territory  with less than 4 months of houses available at current demand. In the Shuswap - the relationship between listings and sales ( with the exception of lots and land) shows a much closer ratio than in the Okanagan zones - where listings are consistently outpacing sales in dramatic fashion. 

The following information is based on data reported June 1st - 30th to the Okanagan Mainline Real Estate Board.

Condo/Apartments

Sales

9

New Listings

9

Current Inventory

33

Number of Months

4

Sell/Inv. Ratio

27.27%

Days to Sell

111

Days – Range

5 to 527

Average Price

$258,378

Median Price

$275,000

Price - Range

$138,500  -  $320,000 

Hottest Neighbourhood

South East Salmon Arm


Condo/Townhouses

Sales

11

New Listings

13

Current Inventory

51

Number of Months

5

Sell/Inv. Ratio

 21.457%

Days to Sell

142

Days – Range

11 to 767

Average Price

$407,900

Median Price

$335,000

Price - Range

$212,000  -  $930,000

Hottest Neighbourhood

North East Salmon Arm


Lots & Acreages

Sales

11

New Listings

82

Current Inventory

410

Number of Months

37

Sell/Inv. Ratio

2.68%

Days to Sell

155

Days – Range

36 to 691

Average Price

$109,636

Median Price

$52,500

Price - Range

$12,500  -  $440,000

Hottest Neighbourhood

North Shuswap


Residential Single Family Homes

Sales

86

New Listings

123

Current Inventory

338

Number of Months

4

Sell/Inv. Ratio

25.44%

Days to Sell

57

Days – Range

9 to 320

Average Price

$417,748

Median Price

$387,250

Price - Range

$126,100  -  $975,000

Hottest Neighbourhood

North East Salmon Arm


Ratio of Sales vs Inventory                 21.71%

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