Kinloch Drive 12803, COLDSTREAM

The heat is on! Summer is in full swing. Real estate sales are brisk and multiple offer scenarios are a common occurrence in some price ranges. A quick market is common this time of year, but the ongoing lack of inventory is adding pressure. Overall housing prices are up about 8%. On the other hand, activity on higher end homes and acreages was surprisingly slow this month. Even while the market is moving, from Penticton to Revelstoke sales were actually down 24% compared to this time last year.

In the Shuswap, sales were down just slightly, around 4%. In the North Okanagan, sales were down almost 12%. The Central Okanagan is seeing the most significant decrease at nearly 23%.

It’s important to carefully select the right pricing strategy for your property! If you plan to buy after you sell we recommend watching your favorite neighborhoods now. Take advantage of our customized auto-email system to keep you informed of new listings in your preferred price range and location!

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

Stats for June 2016 compared to June 2017

• Overall sales -12% to 304 units.
• Single Family home sales -15% to 159 units.
• New listings, +5% to 469 units.
• Active listings -17% to 1494 units.
• Single Family homes listed +12% to 218.
• Average days to sell -16% to 93 days.

Shuswap Real Estate Market (Salmon Arm & Sicamous)

Stats for June 2016 compared to June 2017

• Overall sales -4% to 180 units.
• Single Family home sales +10% to 96 units.
• New listings, +18% to 302 units.
• Active listings -15% to 1,156 units.
• Single Family homes listed +5% to 110 units.
• Average days to sell -26% to 84 days.

Source: Okanagan Mainline Real Estate Board Statistics:

North Okanagan: North Okanagan Monthly Statistics, June 2017

Shuswap: Shuswap / Revelstoke Monthly Statistics, June 2017