Thrive Okanagan Real Estate Team

Office: 250-503-3487 |

THE REAL ESTATE MARKET IN THE NORTH OKANAGAN


Fall is quickly winding up here in the Okanagan... I was in Canadian Tire yesterday and I think all of Vernon was in the Christmas light aisle. Not sure if we all sense Winter weather coming and the thought of slipping off a roof hanging lights once the snow flies is bringing scenes of National Lampoons to our mind or the holiday spirit is hitting us all as we try to find some normalcy this year. Either way... there is no doubt the holiday season will quickly be in full swing! Our home is already looking like a Christmas postcard thanks to Jen! 


With the cooler weather I would like to say that the Real Estate market is feeling the same chill but I would be lying.  Sales in the North Okanagan were still hot in October and we are still seeing many of the properly priced homes selling with multiple offers and some well over the asking price. A lack of inventory is still very present in the market and that has not been changing too much over the last year as sales seem to keep pace. Let's look at the market in October between Vernon to Enderby (North Okanagan). 


     2021 2020 2019
Single Family Home                    123 Sales                       181 Sales                                    104 Sales                    
All Types of Homes 210 Sales 285 Sales    170 Sales

Keeping in mind that Fall of 2020 was extreme as we were coming off the initial Covid world stand still and there was a lot of pent up demand. Overall prices are up in the North Okanagan about 33% over the year. 


If you have Real Estate on your mind... whether thinking of selling, buying or thinking of an Investment Property, it is important to get dialed in information to your specific needs. Thrive OKanagan Real Estate Team is always available to meet and discuss this with you. Contact us directly at 250-503-3487 or email admin@heidilussi.com


     

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