real estate market statistics Archives

Big Assessements Won’t Turn Into Huge Property Tax Increase

Big 2022 Assessments Won’t Turn Into Huge Property Tax Increase Vernon, BC – North Okanagan residents were shocked to see the new 2022 BC Property Assessments come out and like many, we are all concerned that this would turn into huge property tax increases. However, that is not necessarily the case. Local assessments for property [&hellip

Mortgage Stress Test Changes – What You Need To Know

New Mortgage Stress Test Rules February 20, 2020 This coming April, the government will change the rules that cover mortgage lending. These changes should make it easier to qualify for a loan to buy a home. As of April 6, the so-called “stress test” for mortgages will be calculated in a new way. The stress [&hellip

Stress Test Impact On BC Home Sales

Stress Test Impact On BC Home Sales July 16, 2019 Was the B20 Mortgage Stress Test the main cause of home sales across Canada plummeting to start 2018? Were there other factors? The implementation of new federal and provincial housing policies designed to temper the hot BC housing market could have been a cause? Higher [&hellip

RBC Offering Great Mortgage Rates

RBC Offering Great Mortgage Rates April 9, 2019 Well, it finally looks like spring has sprung in the Okanagan and we hope that you are getting outside to take advantage of the beautiful weather. Now it’s your turn to take advantage of some great mortgage rates offered by the big banks! All signs are pointing [&hellip

Home Prices Up, Sales Slowed – October 2018

Home Prices Up, Sales Slowed – October 2018 Home prices have continued to rise month over month in the North Okanagan and Shuswap. There was a slight rise in September and another 3% rise again for single family homes again in October. However sales were down again month over month and new listings continued to [&hellip

New Year's Eve - Silver Star Mountain Resort

Okanagan/Shuswap Real Estate Market Statistics, December 2017

December was an interesting end to 2017! Despite cold weather, there was some significant activity, especially in higher end properties. It was exciting to see our first sale over $1 million on Silver Star Mountain since 2008! On the other hand, it was a typical holiday month with most Sellers and Buyers just too busy [&hellip

Okanagan/Shuswap Real Estate Statistics – July/August 2017

Typical of most summers, the real estate market moderated slightly in July, down 6% from June and down 2% from July last year. Prices in our region continued to reflect strong demand for the available supply. The average home price in July reached $504,712, down slightly (1%) from June, but up 6% from July last [&hellip

Okanagan/Shuswap Real Estate Statistics – June/July 2017

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, [&hellip

Okanagan/Shuswap Real Estate Statistics – May/June 2017

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 [&hellip

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