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August in North Okanagan 

Residential Real Estate 2019

Since May, 2017 we have seen the Absorption Rate in the North Okanagan trend upwards - meaning that there are more homes on the market compared to Buyer demand overall.

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North Okanagan Real Estate Report for August 2019

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...

Sep 3 3 minutes read


Based on  information reported by REALTORS® to OMREB August 1st – 31st 2019 in communities from Enderby to Predator Ridge.


The chart above shows the last 7 years of overall North Okanagan Real Estate market product absorption. The Red box indicates conditions favouring Buyers, and the Black favouring Sellers with Balanced Market  conditions in between.

Condo/Apartments

Sales

14

New Listings

15

Current Inventory

67

Number of Months

5

Sell/Inv. Ratio

20.90%

Days to Sell

91

Days – Range

24 to 260

Average Price

$228.025

Median Price

$215,250

Price - Range

$105,000  -  $388,000

Hottest Neighbourhood

City of Vernon


Condo/Townhouses

Sales

31

New Listings

52

Current Inventory

158

Number of Months

5

Sell/Inv. Ratio

19.62%

Days to Sell

83

Days – Range

11 to 268

Average Price

$322,758

Median Price

$327,000

Price - Range

$164,000 - $494,000

Hottest Neighbourhood 

Harwood


Lots & Acreages

Sales

11

New Listings

22

Current Inventory

329

Number of Months

30

Sell/Inv. Ratio

3.34%

Days to Sell

110

Days – Range

3 to 318

Average Price

$193,964

Median Price

$160,000

Price - Range

$60,000  -  $340,000

Hottest Neighbourhood 

North BX



Residential Single Family Homes

Sales

98

New Listings

146

Current Inventory

528

Number of Months

5

Sell/Inv. Ratio

17.99%

Days to Sell

73

Days – Range

7 to 392

Average Price

$538,663

Median Price

$485,000

Price - Range

$222,000 - $1,460,000

Hottest Neighbourhood 

East Hill


Ratio of Sales vs Inventory                 15.93%  


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.


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