Time frame for the chart above is from Jan 2011 to Dec 2017 and it depicts the absorption rate of real estate specific to the Armstrong Spallumcheen sub area or neighbourhood with the North Okanagan zone.
January 2013 marked the most challenging time for sellers in the last 7 years in this area. At that point in time, it would have taken more that 41 months to sell the number of properties listed based on the number of sales in this area in that month. Fast forward to May of 2017 - where less than 3.5 months of inventory was available in this popular North Okanagan destination.
We were honoured to represent over 10% of sellers in these real estate transactions!
2017 Property Sales in Armstrong & Spallumcheen Overview
|Status: Sold (250)|
|List Price||Sold Price||DOM||Beds||Total Baths||Finished Floor Area|
MLS is 'OMREB' Major Area is 'North Okanagan'Sub-Area is 'AS - Armstrong/ Spall.'
Sold Date is 1/1/2017 to 12/31/2017
Property Type is one of 'Single Family Residential', 'Strata', 'Manufactured Home', 'Lots and Acreages', 'Recreation'
The property mix in this report contains 191 homes, 7 apartments, 27 townhouses, 12 manufactured homes, and 13 land property sales.
Historic Look At Armstrong Spalllumcheen Real Estate Sales
This chart reflects the MLS® property sales by month. The trendline shows clearly that sales volume has climbed steadily - although the jagged variation shows the seasonal nature of Okanagan real estate sales activity - with lower volumes in the winter months.
Historic Median Sale Price Trend for Armstrong Spallumcheen Residential Sales
The chart above shows the upward trend of the Median (middle of the market) sale price by month over the last 7 years. In 2011 the middle of the market was under $300,000 half the time, whereas it was over $400,000 over half of the time in 2017!
Armstrong has a vast variety of factors that need to be considered if you are looking to buy or sell. The variety of properties in the information shared here includes all residential property types.