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North Okanagan Home Market Update February 19 - 26

Chris Holm & Associates

We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan.  We are a true real estate co...

We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan.  We are a true real estate co...

Mar 1 3 minutes read

Homes  in the North Okanagan

Chris shares the details you want to know on North Okanagan Home Sales from February 19th to the 26th

The information provided relates to Single Family Homes only.

What happened in 

North Okanagan Home Sales February 19th to the 26th 

Current market knowledge is extremely important in real estate, as it provides information to base decisions on. Think Price, Timing and also, what to anticipate in Offers and Negotiation.

17 homes sold February 19 to 26 in the North Okanagan. Only 5 of these were inside the City of Vernon while the rest were in other communities

This information relates to the sale of North Okanagan Single Family homes only.

Homes averaged 84 days on the market with an average sale price of just over $755,870.

2 homes home sold at the list price, and 3 above asking. On average, however, $17,865. was negotiated off of the list price.

The number of homes currently listed is 214. Even though the number of sales this week was at it’s highest this year, the number of homes coming onto the market and the number of homes leaving the market has kept the inventory at a consistent and  relatively low level.

What does that mean?

For Potential Sellers -Marketing Matters! With constant inventory, competition is fierce, and your home needs to stand out. Your agent should use a variety of marketing techniques, such as professional photography, virtual tours, and social media, to ensure your home gets maximum exposure.

For Buyers - Being flexible  may be your ticket.: In this market if you can, BE flexible with your search criteria. Consider expanding your search to include different neighbourhoods or types of homes to increase your options.

We hope you are enjoying these market updates. If you have any questions about the market or local real estate, please reach out.

We are here to help.


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