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North Okanagan Home Market Update January 23, 2023

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...

Homes in the North Okanagan

Chris shares the details you want to know on North Okanagan Home Sales from January 15th to 22nd, 2023.

The information provided relates to Single Family Homes only.

What happened in

North Okanagan Home Sales January 15th to 22nd, 2023

Weekly real estate statistics are important to North Okanagan homeowners because they provide valuable information about the local real estate market.

Home sales data can help you understand the current state of the real estate market, and what prices you could expect if you decide to buy or sell a home.

This information relates to the sale of Single Family homes only, so, here we go, 6 homes sold January 15 to January 22.

These 6 homes averaged 76 days on the market, with an Average sale price of, check this out, $1,072,668

1 of these homes sold above asking & Buyers agents negotiated almost $86,300 off of the list price overall.

The number of homes listed is 204, a slight increase from the previous week.

What does that mean?

For Potential Sellers - It’s important to note that this week included 3 sales over $1,000,000. In fact, one sale was almost $3 Million, so the average sale price is somewhat skewed because of this - the market has not actually jumped hundreds of thousands of dollars!

For Buyers - 2 of the homes sold had significant price reductions prior to negotiating a sale, and still buyers agents were able to get higher percentages off the last listed price.

Don’t let the $86,000 dollars fool you tho. The lower-priced homes this week sold up to $26,000 above asking and 20 - 50 thousand dollars below asking.

If you have any questions about these statistics, the market, or local real estate in general, please reach out. We are always here to help.