Vernon Real Estate.com

May Home Sales Volumes in Sharp Contrast to Recent Years

"New listings were 1764, up 16% over April and 7% over this time last year. Average price, typically the last indicator to normalize, was $532,972, just 1% over April and 4% over this time last year." 

- Marv Beer OMREB President

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North Okanagan

Units Listed - 217     Units Sold - 131

Average Prices:

Condo = $216,887 Townhouse = $291,960 Lots = $368,121

Single Family = $489,217

Shuswap/Revelstoke 

Units Listed - 157     Units Sold - 61

Average Prices:

Condo = $290,813 Townhouse = $318,000 Lots = $148,047 Single Family = $462,933

(stats supplied by OMREB)

Have questions about the real estate market in the Norh Okanagan or Shuswap areas? We would love to help! Call us today at 250-260-4711

The results of OMREB's DECEMBER 2016 Buyer Survey are now in! This survey reflects data compiled from 190 survey responses, representing 41.5% of the 458 deals closed on behalf of Buyers in December.

DECEMBER SURVEY SUMMARY

Property Type:
19.7% by First Time Buyers (down from 21.7% in November)
18.6% by Relocating and moving to similar property type (up from 16.1%)
16.0% by Move-Up Buyers (down from 17.1%)
14.9% buying Revenue/Investment Property (up from 11.5%)
13.8% by Buyers Downsizing (down from 18.4%)
5.3% moving from Single Family Home to Strata Unit (down from 7.4%)
5.3% buying Recreation Property (up from 5.1%)
3.2% moving from Strata Property to Single Family Home (up from 1.8%)
1.1% moving into Retirement Home/Seniors Community (down from 1.4%)


Buyer Type (Family Dynamic):
30% Couple without Children (up from 29.7% in November)
29.5% Two Parent Family/Children (up from 20.1%)
14.7% Empty Nester/Retired (down from 18.3%)
12.1% Single Female (up from 11.0%)
9.5% Single Male (down from 13.2%)
4.2% Single Parent with Children (down from 4.6%)


Moving From:
60.8% from Within OMREB Board Area (down from 61.5% in November)
11.1% from Alberta (up from 9.2%)
10.1% from Lower Mainland/Vancouver Island (down from 16.5%)
5.8% from Other Areas in BC (up from 4.1%)
4.2% from Outside Canada (up from 3.2%)
4.2% from Saskatchewan/Manitoba (up from 2.8%)
3.7% from Eastern Canada/Maritimes (up from 2.8%)
0% from NWT/Yukon (no change from 0%)