7292 Tronson Road, VERNON

Spring is normally busy for the real estate market with sales increasing in May over April. This year was no different, with sales 38% higher than April – but 6% lower than May 2016.

Real estate listing inventory shortage may be easing slightly, but rising prices, short turn-arounds of home sales and the ratio of sales to active listings (which measures the balance between supply and demand) indicate the market still favors the sellers.

Are you looking for some real estate buying and selling tips?

North Okanagan Real Estate Statistics (Vernon, Coldstream, Armstrong, Lumby & Enderby)

Stats for May 2017 Compared to May 2016

• Overall sales -15% to 326 units
• Single Family home sales +2% to 155 homes
• New listings, -6% to 472 units
• Active listings -23% to 1,429 units
• Single Family Homes listed -6% to 191 homes
• Average days to sell -1% to 102 days

Shuswap Real Estate Market (Salmon Arm & Sicamous)

Stats for May 2017 Compared to May 2016

• Overall sales +3% to 169 units
• Single Family home sales +8% to 79 homes
• New listings -4% to 318 units
• Active listings -20% to 1,102
• Single Family homes listed -4% to 107 homes
• Average days to sell -12% to 102

Source: Okanagan Mainline Real Estate Board Statistics:
FACT SHEET: Fourth Quarter Year-to-Date 2017
North Okanagan: North Okanagan Monthly Statistics, May 2017
Shuswap: Shuswap / Revelstoke Monthly Statistics, May 2017