Okanagan/Shuswap Market Update – January 2018Published: February 14, 2018
A strong showing in January year over year has market sales up!
The overall market took a turn for the better this January as residential sales across the region of Revelstoke to Peachland totaled 449 in January, holding the same pattern that was seen in December but showing a strong 27% increase over the same period last year according to the Okanagan Mainline Real Estate Board (OMREB).
According to OMREB President Tanis Read, “January showed a substantial jump in both sales volume and new listings over this time last year, with increases of 27% and 45% respectively.” The average home price in the region also rose almost 19% despite the increase in new listings, to $523,402, but still staying consistent month to month with just a 1% uptick over December.
North Okanagan Real Estate Statistics (Vernon, Coldstream, Silver Star, Armstrong, Lumby & Enderby)
Stats for January 2017 vs January 2018
- Overall sales up 30% to 111 units.
- Single Family home sales up 27% to 42 units.
- New listings, down 10% to 210 units.
- Active listings down 19% to 995 units.
Shuswap Real Estate Market Statistics (Salmon Arm & Sicamous)
*Stats for January 2017 vs January 2018
- Overall sales down 3% to 59 units.
- Single Family home sales down 11% to 41 units.
- New listings, up 16% to 71 units.
- Active listings down 11% to 717 units.
- Single Family homes listed down 7% to 359 units.
*Source: Okanagan Mainline Real Estate Board Statistics:
North Okanagan: North Okanagan Monthly Statistics, January, 2018
Shuswap: Shuswap / Revelstoke Monthly Statistics, January, 2018