October 2021 North Okanagan Real Estate Update

"Demand is still strong despite chronically low supply, but we are seeing a healthier environment for buyers and sellers compared to what we saw in 2020 and earlier in the year. Sales are transpiring at a good, healthy pace. As we head into the final months of the year, we can see that this supply drought or lack of new listings has really become the main theme of the year. It will be interesting to see if this trend maintains or changes in 2022."

Kim Heizmann, President Association of Interior REALTORS®

Read the full news release here 

Wondering if now is a good time to buy or sell real estate in the North Okanagan? Call us at 250-260-4711 or email info@vernonrealestate.com to discuss your next move!

September 2021 North Okanagan Real Estate Update

“Usually, we do see an influx of new listings in the fall once children go back to school and families want to move before the Christmas holiday, and we are starting to see that with new listings coming on the market. So seasonally the real estate market is showing signs of pre-pandemic normalcy."

Kim Heizmann, President Association of Interior REALTORS®

Read the full news release here

Let's discuss your next Vernon real estate home sale or purchase, with no obligation. Give us a call at 250-260-4711 or email info@vernonrealestate.com

August 2021 North Okanagan Real Estate Update

*Percentage indicates change from the same period last year

Read the full news release from the Association of Interior REALTORS® here

Need more living space? Our team is proud to help you navigate the real estate market of the North Okanagan with dedicated, professional, and award-winning service! 

Call us at 250-260-4711 today!

July 2021 North Okanagan Real Estate Update

“We live in a very desirable region, so it’s no surprise that high buyer demand has remained consistent into the summer months. While sales are down compared to last month, this is likely due to lack of inventory coupled with normal seasonality of the real estate market.” 

Association of Interior REALTORS® President Kim Heizmann

Read the full news release here

Needing more living space? Our team is proud to help you navigate the real estate market of the North Okanagan with dedicated, professional, and award-winning service! 

Call us at 250-260-4711 today!

June 2021 North Okanagan Real Estate Update

“The market is still very much a hot market, maybe just not boiling hot anymore. Like the weather this past week, it went from 40 plus degrees to a more comfortably warm 30 something degrees, which is still warm by all accounts.”

Kim Heizmann, Association of Interior REALTORS® President

Read the full news release here

Let's discuss your next Vernon Real Estate home sale or purchase, with no obligation.

Give us a call at 250-260-4711 or email info@vernonrealestate.com

May 2021 North Okanagan Real Estate Update

"There is a slight reduction in pressure that is creating a calming effect for a healthier market for both buyers and sellers. We are seeing and easing up on the gas pedal that has been going above the speed limit, to now moving within a reasonable pace. While the market may be slowing down from an all-time record, it does not mean the market has softened, it means the buyer frenzy has calmed down slightly"

Kim Heizmann, Association of REALTORS® President

Read the full news release here

Buying or Selling...No Real Estate Agent or Real Estate Group in the North Okanagan Delivers MORE Than The Defeo & Associates Team! Call us at 250-260-4711 to discuss your next North Okanagan real estate sale or purchase, with no obligation!

April 2021 North Okanagan Real Estate Update

“We can’t look at the data as we normally would as this time last year we were in the thick of our first lockdown due to the pandemic. What we can look at is what is currently happening and currently supply is still not catching up to demand. We are in a supply drought when it comes to listings. Despite the supply drought the market remains strong and is starting to rationalize. With vaccine roll outs underway, once more and more people get vaccinated and we get some mobility and comfort back, hopefully we see more homes come on market.”

Kim Heizmann, Association of Interior REALTORS® President

Read full news release here 

Buying or Selling...No Real Estate Agent or Real Estate Group in the North Okanagan Delivers MORE Than The Defeo & Associates Team! Call us at 250-260-4711 to discuss your next North Okanagan real estate purchase or sale, with no obligation!

March 2021 North Okanagan Real Estate Update

“Buyers are struggling to find homes and the lack of supply is putting upward pressure on pricing. It is really important to work with a local REALTOR® who not only understand the market but also that buyers are looking for homes for their families, not just a house to live in.” 

Kim Heizmann Association of Interior Realtors® President

Read the full news release here 

Needing more living space? Our team is proud to help you navigate the real estate markets of the North Okanagan and Shuswap areas with dedicated, professional, and award-winning service! 

February 2021 North Okanagan Real Estate Update

"We are seeing a noticeable increase on various types of recreation and vacation home sales suitable for all seasons. Due to COVID-related travel restrictions and limitations more and more inter-provincial buyers are taking the opportunity to create vacation opportunities within B.C. Shortage of supply is still an issue with inventory struggling to meet demand, particularly when it comes to single-family homes."

Kim Heizmann, Association of Interior REALTORS® President

Read the full news release here 

Buying or Selling...No Real Estate Agent or Real Estate Group in the North Okanagan Delivers MORE Than The Defeo & Associates Team! Call us at 250-260-4711 to discuss your next North Okanagan real estate purchase or sale, with no obligation!

January 2021 North Okanagan Real Estate Update

Now is a great time to sell your home in the North Okanagan! Inventory for single-family homes is down by 43% and the benchmark price is up by 14%! Let us work with you every step of the way! Our combination of skill, experience, and technology ensures that we can sell your home for the highest possible price and in the shortest period of time. We have the tools to meet the demands of a highly competitive market! 

December 2020 North Okanagan Real Estate Update

High demand drove the real estate market to finish the last month of 2020 on a high note.

"Last year was a very unusual year, after an initial slowdown due to stay-at-home orders from the provincial government we saw a high demand in the real estate market, once the orders were lifted that did not wane even in the typically slower months. Despite unusually high demand, inventory of active listings consistently remained low as buyers snapped up homes almost as soon as they were listed. Particularly in the family-sized homes category." 

Kim Heizmann OMREB President

Read the full market update here

Buying or Selling...No Real Estate Agent or Real Estate Group in the North Okanagan Delivers MORE Than The Defeo & Associates Team! Call us at 250-260-4711 to discuss your next North Okanagan real estate sale or purchase, with no obligation!

November 2020 North Okanagan Real Estate Update

"We continue to see high residential housing demand despite a mild seasonal slowdown generally seen during this time of year. It's typical for market conditions to cool as the weather cools, yet that, much like everything else this year, hasn't happened."

Kim Heizmann OMREB President

Read the full news release here

Let's discuss your next North Okanagan real estate sale or purchase with no obligation! Give us a call at 250-260-4711 or send us an email at info@vernonrealestate.com

October 2020 North Okanagan Real Estate Update

"Seasonally, we normally see the market start to calm down towards the colder winter months however, that was not the case for October. This seems to be a trend across the province as demand for more living space continues to drive consumer incentives."

Kim Heizman, OMREB President

Read the full OMREB news release here 

Needing more living space? Our team is proud to help you navigate the real estate markets of the North Okanagan and Shuswap areas with dedicated, professional, and award winning service! 

September 2020 North Okanagan Real Estate Update

"Unusual market activity seems to be the theme this year, although not surprising considering there is nothing normal about 2020. The pandemic has definitely made people look at things differently. We are seeing higher demand likely due to post-quarantine lifestyle changes."

Kim Heizmann, OMREB President

Read the full news release here 

Whether buying or selling real estate in the North Okanagan, no other realtor or real estate team delivers MORE than Defeo & Associates!

August 2020 North Okanagan Real Estate Update

"We are still seeing high sales activity despite the lack of inventory. We are at a stage where inventory is struggling to catch-up to the demand, especially in the single-family category-the most desired type of property post quarantine."

Kim Heizmann, OMREB President

Read the full news release here

Is it a good time to buy or sell real estate in the North Okanagan? Call us at 250-260-4711 or send us an email at info@vernonrealestate.com We would be more than happy to help!

July 2020 North Okanagan Real Estate Update

"We are seeing a pent-up demand propped up by consumer's desire for more space in the wake of the pandemic. While this is not normal market activity, there is nothing typical about 2020"

Kim Heizman OMREB President

Read the full news release here 

If you have questions about the real estate market in the North Okanagan, we would be more than happy to help! Call us at 250-260-4711 or send us an email at info@vernonrealestate.com

June 2020 North Okanagan Real Estate Update

“These numbers are a positive indicator that real estate in the Okanagan is recovering from the pandemic induced slowdown of the previous three months,” says OMREB President Kim Heizmann, adding that “while we are not on the other side of this yet, this is a cautiously optimistic sign that the housing market may bounce back sooner than forecast.” 

~Kim Heizman OMREB President

Read the FULL Okanagan News Release Here

Wondering if now is a good time to buy or sell real estate in the North Okanagan? Give us a call at 250-260-4711 or email us at info@vernonrealestate.com - We are more than happy to answer any questions you might have!

May 2020 North Okanagan Real Estate Update

"While we are still in the midst of a global pandemic it is encouraging to see that residential sales are moving at an upward trajectory."

Kim Heizman OMREB President

Have questions about buying or selling real estate in the North Okanagan? We are more than happy to help...CALL us at 250-260-4711 or email info@vernonrealestate.com

April 2020 North Okanagan Real Estate Update

" Market activity for this time of year is usually quite healthy. The ecomomy has taken a big shock to the system due to the pandemic and, no surprise, has the real estate market. This will change in the coming months once businesses reopen and consumers who temporarily pushed pause on their buying and selling activities due to the virus, will resume their real estate plans."

Kim Heizman OMREB President

Read the full Okanagan Real Estate Market News Release here 

Have questions about real estate in the North Okanagan? We are here to help!

March 2020 North Okanagan Real Estate Update

"While the market remained steady in March this will likely slowdown as the economic inpacts of COVID-19 continue to develop. In the meantime real estate professionals are still able to utilize technology-driven solutions to help accomodate these transactions during self-distancing precautions"

OMREB President Michael Loewen

Need help navigating the North Okanagan Real Estate Market during these difficult times? We are here to help! 

February 2020 North Okanagan Real Estate Update

Have questions about buying or selling real estate in the North Okanagan? Call us at 250-260-4711 we are more than happy to help! 

JANUARY 2020 North Okanagan Real Estate Update

If you have any questions about buying or selling real estate in the North Okanagan, we are more than happy to help! 

DECEMBER 2019 North Okanagan Real Estate Update

If you have any questions about buying or selling real estate in the North Okanagan, we would love to help! Call us at 250-260-4711 TODAY!

NOVEMBER 2019 North Okanagan Real Estate Update

Units Listed: 212

Units Sold: 119

Days To Sell: 111

Active Listings: 1,250

Average Prices:

Condos: $205,914

Townhouse: $366,974

Lots: $293,400

Residential: $547,131

Read the FULL OMREB report here 

Have questions about the North Okanagan real estate market? We would be more than happy to help! Call us at 250-260-4711 TODAY!

OCTOBER 2019 North Okanagan Real Estate Update

Units Listed: 259

Units Sold: 177

Days To Sell: 105

Active Listings: 1,360

Average Prices:

Condos: $268,641

Townhouse: $388,839

Lots: $158,931

Residential: $559,481

Read the FULL OMREB report here

Whether buying or selling, no other realtor or real estate team in the North Okanagan delivers MORE! 

SEPTEMBER 2019 North Okanagan Real Estate Update

Units Listed: 271

Units Sold: 187

Days to Sell: 82

Active Listings: 1,517

AVERAGE PRICES

Condos: $241,177

Townhouses: $353,879

Lots: $298,460

Residential: $514,173

Read the FULL OMREB report here

AUGUST 2019 North Okanagan Real Estate Update

Units Listed: 333

Units Sold:192

Days to Sell: 87

Active Listings: 1,623

AVERAGE PRICES

Condos: $228,029

Townhouses: $322,758

Lots: $193,964

Single Family: $538,663

Read the full OMREB report here 

JULY 2019 North Okanagan Real Estate Update

Units Listed: 346

Units Sold: 240

Days to Sell: 78

Active Listings: 1,603

AVERAGE PRICES

Condo: $239,968

Townhouse: $326,869

Lot: $339,231

Residential: $536,437

Read the full OMREB statistical report

JUNE 2019 North Okanagan Real Estate Update

“While sales levels have maintained momentum more than in other markets, we continue to see the fallout of federal mortgage policy creating pent-up demand,” says OMREB President, Michael Loewen.

Units Listed: 1,112

Units Sold: 479

Active Listings: 3,817

Average Prices:

Condo: $181,375

Townhouse: $367,741

Lots: $212,891

Residential: $501,156

Let us know if we can answer any of your questions about the real estate market in the North Okanagan!

NORTH OKANAGAN REAL ESTATE STATISTICS 2000-2018

2018 North Okanagan (OMREB) Statistics for Current Month Here

2017 North Okanagan (OMREB) Statistics Graphs for Current Month Here