This Okanagan Shuswap Real Estate Update covers the areas of Greater Vernon and the North Okanagan, Kelowna and Central Okanagan as well as Salmon Arm and the Shuswap.

Updated Stats for Residential Homes in the Okanagan Shuswap - January 2025

Sell/Inventory Ratio (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.):

North: 15.41%

Central: 10.41%

Shuswap:  13.89%

Days to Sell (how many days on average it is taking to sell a home. Please note this does not include additional time on the market of any listings that expired or were canceled and then re-listed.):

North: 73

Central: 75

Shuswap: 118

Active Listings:

North: 1074

Central: 3237

Shuswap: 662

Benchmark Price:

North:

Single Family:  $759,000

Townhouse:     $540,200

Apartment:    $335,000

Central:

Single Family:  $1,030,600

Townhouse:     $742,900

Apartment:    $517,100

Shuswap:

Single Family:  $705,300

Townhouse:     $504,500

Apartment:    $435,500

Average Prices (Residential):

North: $733,293

Central: $1,028,010

Shuswap: $747,320

Lakefront Sales (Year to date):

North Okanagan Waterfront Home Sales:  1

Central Okanagan Waterfront Home Sales: 3

Shuswap Waterfront Home Sales: 0

Okanagan Shuswap Overall Statistics:

Total Units that were newly LISTED (and active on the market):

North: 261

Central: 1063

Shuswap: 141

Total Units SOLD (all property types including raw land and commercial):

North: 92

Central: 272

Shuswap: 62

Wrap Up:

Sellers:

As we dive into a New Year and inch our way towards a possible buyer's market, now is more than ever the time to think about putting your best foot forward on your already listed or about to be listed home. Whether that may be an above-average marketing strategy, pre-listing inspection, or competitive pricing, now is the time to have a discussion with your agent about the best way to get buyers to zero in on your home. Now is the time to talk game plan with a pro listing agent today.  

If you're currently considering listing your property, our new video "7 Reasons Why a Pre-Listing Inspection is Vital." could be an interesting watch for you!

Buyers:

The beginning of the New Year brought along with it both a very healthy increase in new listings and longer days to sell for listed properties, particulary in the North Okanagan. Are we seeing a subtle shift towards a buyer's market? Too soon to tell but not to rule out! However, with Canada's January 2025 Interest Decrease, we could also see an increase in buyer demand. With that in mind, now is more important than ever to get your financing in order and a real estate expert to guide you in your journey. Reach out to our office today to get started!

If you're in the market for your first home, the new video, "Three Ways to Score The Lowest Rate." will definitely be of interest to you!

Here is our feature listing of the month, a single family home in Vernon. View our listing video for 6534 Apollo Road here:

If you are wanting to buy, call us and we can work together to get you access to that elusive 10% of homes that are not currently on the market.  One of them may just be the perfect home for you.  Reach out to Salt Fowler today. and "Just Add Salt".  Being first in line in this competitive market is key.  

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About the Author: The article above, Real Estate Market Update, was provided by Lisa Salt, an authority on Vernon BC, Okanagan and Shuswap and area real estate and a leader in the field of real estate blogging and vlogging.  Lisa and her group have helped literally thousands of families buy and sell homes since 1993. 

Looking to buy a home in the Okanagan Shuswap area?  Check out "Everything You Need to Know About Buying a Home" article. It’s free of charge and will save you a ton of time!

Looking to sell?  We use the latest technology to get our clients’ homes sold quickly and for as much money as possible.

We help people buy and sell real estate in the following Okanagan/Shuswap areas: Vernon, Armstrong, Enderby, Lake Country, Lumby, Westside and Salmon Arm/Shuswap.

Call or Text 250-549-7258 or email webinfo@saltfowler.com