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North Okanagan Real Estate Market Update



Vernon BC and North Okanagan Real Estate Market Update - September 2014

**This North Okanagan Market Update covers the areas of:  Vernon, Coldstream, Lumby, Falkland, Armstrong, Enderby

North Okanagan numbers for September of this year continue on the upswing into the Fall market.  This is great news for the real estate market!  We are definitely experiencing recovery.    

North Okanagan overall sales statistics September:

Total Units Listed:  We had a few less listings enter the market in September as compared to August.  We had 306 new listings in September which was up slightly down from the 339 new listings that entered the market in August.  Relative to 2013, this number is up 6.99% year over year.  We attribute this rise to the normal seasonal sales slowdown in the North Okanagan, and don't feel there is any major cause for concern.  

Total Units Sold:  In September, the North Okanagan achieved 188 sales.  This number is down marginally from August when we experienced a relatively high 208 sales, however still very good results. Also, year over year, we are up from September 2013 when the market accomplished only 151 sales.  Out of these 18sales, the majority - 168 sales were residential (as opposed to commercial, industrial, etc.), compared to the 132 residential sales experienced during the same month last year.  

The North Okanagan's inventory has remained stable all summer around the 10 month mark - however this number rose a bit this month. We are now up to 11.4 months in September, from 10.8 months in August.  This number is calculated based on the number of units currently on the market, at the rate they are currently selling.  We are now at 2151 total listings, down considerably from the 2325 listings on the market in the North Okanagan during the same time period last year.  To put this into perspective, as a ratio, 7.81% of the inventory sold in September, which still means nearly 92.19% of what is on the market did NOT sell.  These numbers are continuing to slowly improve.  


Wrap Up:


Sellers:   Summer was the start of our recovery here in the North Okanagan real estate market, and the Fall market seems to be following in the same vein.  We are seeing some old inventory that has been sitting on the market for years finally selling - albeit probably at lesser prices than the sellers originally intended, however sell they have!  The majority of the activity was still in the mid price range homes, around the $350-450,000 range, however we did see activity above and below that range as well - and at a greater pace than experienced over the last many years.  Your list prices still need to be sharp and by and large, we are not seeing any major increases in pricing and do not expect to see any in 2014, however the forecast for 2015 looks positive for even more sales and maybe even some modest price increases (2-3%).  Do not expect the huge increases we experienced in 2007 - 2008.   We simply do not have the huge influx of out of province buyers that were buying at that time.  That influx was largely due to the low pricing in the Okanagan which no longer exists.  Now we have to trade on our weather and passive rush hour traffic - still good, however nothing is as attractive as low prices.

If it is important to you to net the most from your home sale, please click here: $5,000 more!  We would be happy to help!

Buyers:  Inventory is up a little this month, giving home buyers some more selection.  We don't expect this to last long, so if you are looking to purchase, now is a good time to start or continue your search.  Many people stop their search during the winter months as they don't want to move in the Winter.... however just remember - the Seller doesn't want to move in the winter either!  You may very well be able to negotiate a longer possession date, and everyone gets to move in the Spring!  If you want more information on how to make this happen, please don't hesitate to give us a call. We are happy to help!

If you would like to see all the available homes in one place, please visit our website and save some time and frustration:  Click here to View Thousands of Homes online in one place!   

Cheers!

Lisa, Gord, Chris, Glenn, Alex, Joanne and Greg (click here to contact one of our team)
Salt Fowler Team, RE/MAX Vernon - specializing in North Okanagan and Vernon BC Real Estate

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Hot New Listing! Commercial for sale, 4701 25 Avenue, Vernon, BC in Okanagan Landing.

Industrial building with 6 bay covered dock and 2 scissor lifts. Has an additional separate 4 door shop, as well as a second 1 door shop area attached to the main building. Includes an additional building for storage. Main building has plenty of office space, lunch room and 2 bathrooms plus full basement with offices and walkup to main ground level. Flat lot plenty of parking or storage available, buildings are built extremely well and in excellent condition. Property has a current lease with tenant until until May 2016 will consider staying if new owner wishes them to stay on. Excellent opportunity for investors looking for a good cap rate as well as a small to midsize business looking to own a prime piece of real-estate in Vernon..

As always please do not hesitate to give the Salt Fowler Team at RE/MAX Vernon, a call at 250-549-7258 if we can answer any questions about this real estate listing, or if you would like to book a private showing.

"Just Add Salt", Salt Fowler Team, RE/MAX Vernon - Specializing in Vernon BC Real Estate

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Hot New Listing! Townhouse for sale, 1 3804 32 Avenue, Vernon, BC in Downtown Vernon.

Where exclusivity meets attainability, the Okanagan Brownstones impress. Intelligently and attractively designed as an architectural re-creation of the infamous townhomes and flats of New York, London, and Paris, each distinctive unit of this innovative community offers a fusion of unheard of privacy and accessibility to the heart of the city. This particular townhouse unit is complete with two spacious bedrooms and two supremely-appointed full bathrooms. The living and dining spaces are presented in an open-concept, which lends itself naturally to entertaining with gleaming floors and countless picture windows. The neighbouring kitchen blends well into the dining area, with a thoughtful peninsula and breakfast bar. Dark birch cabinetry and marbled laminate countertops offer a modern touch, with a complementary tile backsplash and under cabinet lighting. Down the hall, an expansive master bedroom offers the utmost in privacy with a tastefully-appointed ensuite bath. The second bedroom is equally spacious, with generous closet space. An attached patio completes the space, ideal for appreciating the urban standard of living that surrounds you. Embrace this unique opportunity for a truly lock and leave lifestyle of the Okanagan Brownstones today. .

As always please do not hesitate to give the Salt Fowler Team at RE/MAX Vernon, a call at 250-549-7258 if we can answer any questions about this real estate listing, or if you would like to book a private showing.

"Just Add Salt", Salt Fowler Team, RE/MAX Vernon - Specializing in Vernon BC Real Estate

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We just sold this House at 5350 McIntosh Road, Vernon, BC in North BX.

View this recently sold House or see all of the Salt Fowler Team home sales.

Please do not hesitate to give the Salt Fowler Team at RE/MAX Vernon a call at 250-549-7258 if we can answer any questions about this real estate listing, or any other real estate questions you may have.  We are happy to be of assistance at any time.

"Just Add Salt", Salt Fowler Team, RE/MAX Vernon - Specializing in Vernon BC Real Estate

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We just sold this Townhouse at 7 3804 32 Avenue, Vernon, BC in Downtown Vernon.

View this recently sold Townhouse or see all of the Salt Fowler Team home sales.

Please do not hesitate to give the Salt Fowler Team at RE/MAX Vernon a call at 250-549-7258 if we can answer any questions about this real estate listing, or any other real estate questions you may have.  We are happy to be of assistance at any time.

"Just Add Salt", Salt Fowler Team, RE/MAX Vernon - Specializing in Vernon BC Real Estate

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Salt Fowler #PumpkinFest 2014 Pumpkin

FOR IMMEDIATE RELEASE

Salt Team Realtors® Give Pumpkins and Promises to Children

 

Spallumcheen, British Columbia (October 20, 2014) – The Salt Fowler Team RE/MAX Vernon Realtors® had their annual Pumpkin-Fest pumpkin picking and charity lunch at the Pumpkin Patch on St. Annes Road.  In addition to providing hot chocolate, hot dogs and coupons for free pumpkins,  a professional pumpkin carving presentation and a Pumpkin Carving contest, the Salt Team provided hope to children by raising over $500 of donations to Children’s Miracle Network through this event.

 

“Our team has always been involved with various charity and community events - it's just our little way of giving back to those who need our help," says Lisa Salt, fco-ounder of the Salt  Fowler Team.  The Salt Fowler Team personally prepared and served the 17 dozen hot dogs and hot chocolate to their past and current clients, indicative of their commitment to personalized service in business as well as in charity.

 

Andrew Maksymchuk, an enthusiastic repeat pumpkin and hot dog recipient, stated, In 2000, when my elderly and recently-widowed mother sold her home in Vernon to move into an apartment, Lisa from Re/Max handled the sale. Since that time, and up until her passing three years ago, mom always looked forward to receiving her annual invitation to the Pumpkin Patch. She wouldn’t let us forget the upcoming day in case she lost out on the hot chocolate, hotdog and of course her free pumpkin! Mom is gone, but we continue to make the trek and participate in her memory and the thrill of watching the excited youngsters enjoying the day.”

 

The Salt Fowler Team has a history of giving back to their clients and to the community. In the past, they have provided their clients with tickets to the Vernon Vipers hockey games and admission to Waterslide Park. The Salt Team Realtors® take care of their clients long after their business transactions have closed.  In fact, a portion of each sale is reserved for charity and distributed at the end of the year to Hospice House and to clients that have fallen on hard times.  Salt Fowler Team members exemplify the spirit of giving by filling their personal and business lives with service.

 

Through Salt Fowler Team’s example of giving back to their clients and the community, their clients are paying it forward by giving to sick and injured children through over $500 of donations to the Children’s Miracle Network. 

 

The Children’s Miracle Network is a non-profit organization dedicated to saving and improving the lives of children by raising funds for children’s hospitals. Because of RE/MAX’s dedication in helping sick and injured kids over the past 19 years, RE/MAX has become one of just three fundraising sponsors to reach $100 million in total donations to Children’s Miracle Network.  Local charitable events, such as the Pumpkin Fest coordinated by the Salt Fowler Team, are integral to the amazing success of Children’s Miracle Network. 

 

The Salt Fowler Team at RE/MAX Vernon is a vibrant, technologically savvy group of realtors who have joined together to revolutionize the real estate business through their advanced online marketing presence, virtual office and environmentally friendly outlook, not to mention great customer appreciation and dedicated charitable giving.  To find out more, please visit www.saltteam.ca.

 

Contact:

Lisa Salt, Founder

lisa@saltfowler.com
(250) 549-SALT (7258)

(800) 667-2040

 

 

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Click here to view the video from #PumpkinFest 2014, the most recent Salt Fowler Team at RE/MAX Vernon client appreciation party and Children's Mircle Network Fundraiser:



Hope to see you in 2015!!!  Thanks to everyone who showed up to participate, as well as to Chef Michael who demonstrated his signficant vegetable carving abilities, and to Teeter Totter Toys for sponsoring our Pumpkin Carving contest! 
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Top Sales- September 2014

Alex Wambold mug

 

Congratulations, ALEX!!!

The Salt team is proud to honor Alex Wambold as their top salesperson for the month of September 2014. 

Lisa, Gord and the rest of their team of professionals are very proud of Alex’s accomplishments this past month and sincerely congratulate him.

To contact Alex, you can find him at alex@saltfowler.com or 250-549-4161.

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We are very proud of the service we have provided to our valued clients over the years. Check it out and we know you'll be impressed and understand why the Salt Fowler Team has been a leader in the North Okanagan real estate market consistently since 1993.  Here is a recent testimonial from one of our valued client (an exerpt from her email):

".....
I do have to say that I really appreciate you keeping contact with us. We have worked with quite a few realtors' now and you guys are the best! Every realtor company should follow your business model/strategy. You guys don't just sell our home you guys follow us, and truly care for your customers! You guys have followed us all around this province and I truly appreciate! And recommending Shannon, she has your values and work ethic. I would have thought that she was one of your team members. I can not sing your praise enough!"

~Kelsey Bossert-Keller


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