This Okanagan Shuswap Real Estate Update covers the areas of Greater Vernon and the North Okanagan, Kelowna and Central Okanagan as well as Salmon Arm and the Shuswap.

Updated Stats for Residential Homes in the Okanagan Shuswap - February 2025

Sell/Inventory Ratio (this is the "absorption" of homes, i.e. how much of what is currently on the market sold last month.):

North: 15.79%

Central: 10.55%

Shuswap:  14.14%

Days to Sell (how many days on average it is taking to sell a home. Please note this does not include additional time on the market of any listings that expired or were cancelled and then re-listed.):

North: 89

Central: 71

Shuswap: 94

Active Listings:

North: 1146

Central: 3520

Shuswap: 710

Benchmark Price:

North:

Single Family: $774,200

Townhouse:     $541,700

Apartment:    $330,300

Central:

Single Family:  $1,036,900

Townhouse:     $730,100

Apartment:    $513,400

Shuswap:

Single Family:  $731,800

Townhouse:     $507,800

Apartment:    $429,600

Average Prices (Residential):

North: $757,567

Central: $1,144,973

Shuswap: $741,759

Lakefront Sales (Year to date):

North Okanagan Waterfront Home Sales:  4

Central Okanagan Waterfront Home Sales: 4

Shuswap Waterfront Home Sales: 0

Okanagan Shuswap Overall Statistics:

Total Units that were newly LISTED (and active on the market):

North: 292

Central: 1019

Shuswap: 165

Total Units SOLD (all property types including raw land and commercial):

North: 126

Central: 306

Shuswap: 50

Wrap Up:

Sellers:

For the most part, February brought along with it a fairly stable month of numbers, generally a good sign for sellers. However, we did experience a slight trend towards a buyer's market. Which, in combination with the uncertainty related to the US tariffs could put a wrench in the works of selling your property. Now, more than ever, is the time to have a discussion with your agent about the best way to get buyers to zero in on your home. Now is the time to talk game plan with a pro listing agent today.  

If you're currently considering listing your property and trying to nail down a great price, our new video "Top 10 Most Expensive Homes sold in 2024." could be an interesting watch for you!

Buyers:

Get ready buyers! Strong inventory numbers in February, especially in Central Okanagan and the Shuswap, seem to unmistakably be trending towards a market in your favour, as new listing numbers rise and sales just can't keep up the pace. With that in mind, the combination of lower interest rates and the potential for economic uncertainty as a result of the US tariffs could disrupt the market in the upcoming months. Now is more important than ever to get your real estate expert to guide you in your journey. Reach out to our office today to get started!

If you're in the market for your first home, the new video, "Is NOW the RIGHT time to buy a home in Vernon? Or Wait until Spring?" will definitely be of interest to you!

Here is our feature listing of the month, a charming two-bedroom home in Glenmore. View our listing video for 552 Snowsell Street here:

If you are wanting to buy, call us and we can work together to get you access to that elusive 10% of homes that are not currently on the market.  One of them may just be the perfect home for you.  Reach out to Salt Fowler today. and "Just Add Salt".  Being first in line in this competitive market is key.  

__________________________________

About the Author: The article above, Real Estate Market Update, was provided by Lisa Salt, an authority on Vernon BC, Okanagan and Shuswap and area real estate and a leader in the field of real estate blogging and vlogging.  Lisa and her group have helped literally thousands of families buy and sell homes since 1993. 

Looking to buy a home in the Okanagan Shuswap area?  Check out "Everything You Need to Know About Buying a Home" article. It’s free of charge and will save you a ton of time!

Looking to sell?  We use the latest technology to get our clients’ homes sold quickly and for as much money as possible.

We help people buy and sell real estate in the following Okanagan/Shuswap areas: Vernon, Armstrong, Enderby, Lake Country, Lumby, Westside and Salmon Arm/Shuswap.

Call or Text 250-549-7258 or email webinfo@saltfowler.com