Weekly North Okanagan Real Estate Update

Are you interested in buying a home in Vernon, Coldstream, East Hill, Bella Vista, Lavington, North BX, South BX, Foothills, Mission Hill , Okanagan Landing, South Vernon, Alexis Park, Hardwood, Westmount, Silver Star, Lumby, Armstrong or Enderby? Then this is the website to keep up with new listings as they come on the market! Click on the picture on the homepage of our website to view this week's featured listing in the Vernon/North Okanagan area!

In the period between January 12, 2015 to January 18, 2015 there were 42 new listings of single family homes in Vernon and area ranging in price from $75,000 to $3,290,000. These homes also ranged from 0 bedrooms to 6 bedrooms.

The following chart shows the number of new single family home listings broken down by Vernon and North Okanagan sub areas. 

Please contact us if you are interested in more information about these listings or would like to be notified by email when new listings come on the market in Vernon and the North Okanagan. For a selection of single family homes currently on the market in the North Okanagan, please Contact Us. The Salt Fowler Team at RE/MAX Vernon can help!

This could be your Vernon Real Estate Story!

Beware of Bargains!

When we decided to list our home for sale, we contacted the Salt Fowler Team plus two other real estate companies for evaluations on our home. We were shocked when there was a range of prices given by the different real estate companies. The lowest price was from a local reduced rate commission company, with the highest from Lisa Salt from the Salt Fowler Team. After much deliberation and discussion regarding the pricing, we chose to list with Lisa, not only due to what we felt was a fair pricing evaluation but due to their extensive marketing campaign promised to us.

Vernon BC and North Okanagan Real Estate Market Update - Year End, 2014

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

  

North Okanagan sales for December of 2014 showed another slight improvements compared to 2013.  We were happy to end off the year on a strong note!

North Okanagan overall sales statistics:

Total Units LISTED (and actively on the market) during each of the past 3 months:

October:       234
November:   191
December:   126

Most recent month as compared to 2013:  Up 10.53%

Even though our inventory rose this 10.53% in December, the overall numbers for the year are down, as you will see shortly.  Overall we are happy with the 2014 results as they have been the best we have seen in many years!

Total Units SOLD (all property types including raw land and commercial) during each of the past 3 months:  

October:       165
November:   120
December:   114

Most recent month as compared to 2013:  Increase of 17.53%


Total RESIDENTIAL Units SOLD (includes houses, condos and manufactured homes for sale in Vernon BC) during each of the past 3 months: 

October:       147
November:   99
December:   96

Most recent month as compared to 2013:  Increase of 14.29%


Inventory - the "Competition" for Sellers and the "Choices" for Buyers:

October:       1970 listings on the market - 11.9 months of inventory
November:   1966 listings on the market - 16.5 months of inventory
December:   1585 listings on the market - 13.9 months of inventory

Year over year comparison versus December 2013:  1968 or 17 months of inventory.  As you can see, the number of listings at year end was down 383 listings (or a huge 24% less) from 2013.  A welcome decrease which is a clear sign that our pathetic market of post-boom is, at least for the time being - over.  

(These numbers are calculated based on the number of units currently on the market, at the rate they are currently selling)

To put this into perspective, as a ratio, 6.06% of the inventory sold in December, which still means nearly 93.94% of what is on the market did NOT sell.  These numbers are a definite improvement from 2013.  

Wrap Up:

Sellers:   in 2014, total sales for the year of all property types were 1992.  In 2013 we ended the year at 1555 total sales.  This represents an increase in sales of ..... drumroll please ...... 28.1%!!!  (insert maniacal cheering here).  Residential sales along were 1769 versus 1397 in 2013, an increase of 26.63%.  Very nice increases as compared to the previous 6 years!  Sellers rejoice - inventory is down and sales are up.  Life is good.  For now.  Plummeting oil prices aren't a happy sign for our Alberta-reliant real estate market.  If you are wanting to sell - we suggest doing so now and not wait.

If you are unsure what your home is worth and just want some general info on house prices, please click here. 

Buyers:  There may be some opportunities with the declining oil prices.  Sadly, jobs lost from this type of decline does cause some opportunity for savvy buyers.  There is one caveat though.  As we said last month,  should interest rates increase while you are waiting for a slight market decrease, over the life of your mortgage you will likely end up paying more at the end of the day for your home.  Weighing these options are important.  Please Contact us for some professional advice based on your own personal circumstances.  

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

We want to wish everyone a healthy, happy and successful 2015!!  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

We just sold this House at 12310 Kalavista Drive in Coldstream, BC.

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

We just sold this Condo at #203 3705 30 Avenue, Vernon, BC in Alexis Park.

View this recently sold Condo 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

Are you interested in buying a home in Vernon, Coldstream, East Hill, Bella Vista, Lavington, North BX, South BX, Foothills, Mission Hill , Okanagan Landing, South Vernon, Alexis Park, Hardwood, Westmount, Silver Star, Lumby, Armstrong or Enderby? Then this is the website to keep up with new listings as they come on the market! Click on the picture on the homepage of our website to view this week's featured listing in the Vernon/North Okanagan area!

In the period between December 29, 2014 to January 4, 2015 there were 14 new listings of single family homes in Vernon and area ranging in price from $138,000 to $1,050,000. These homes also ranged from 1 bedroom to 6 bedrooms.

We just sold this Townhouse at 1 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

Hot New Listing! Manufactured Home for sale, #319 15401 Kalamalka Lake Road in Coldstream, BC.

A wonderful means to truly enjoy the scenic surroundings of Kalamalka Lake, this charming manufactured home offers magnificent views and mature greenery. Inside, a spacious living room contains plush carpeting underfoot and an open-concept towards the eat-in kitchen, where gleaming laminate flooring and copious cabinetry abound. Elsewhere in the home, a generous master suite has a large picture window and a private ensuite bathroom. A second bedroom is ideal for guests and a full hall bathroom is well-appointed. Outside, a covered porch is perfect for outdoor entertaining, and an expansive lawn with garden shed is ideal for a number of purposes. Comes see everything this lovely property can offer you 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

We just sold this Condo at #204 4103 Alexis Park Drive, Vernon, British Columbia in Alexis Park.

View this recently sold Condo 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