Status: Sold (76)


List Price

Sold Price

DOM

Beds

Total Baths

Finished Floor Area

Min

$89,900

$85,000

4

1

1

643

Max

$599,000

$590,000

371

6

5

3636

Avg

$325,981

$321,121

50

3

2

1797

Sum

$24,774,567

$24,405,215





Criteria:  


MLS is 'OMREB'

Major Area is 'North Okanagan'

Sub-Area is 'MH - Mission Hill'

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 55 homes, 20 apartments, and 1 townhouse.

Mission Hill, Vernon BC Key Performance Indicator Review 2017 

Time frame for the chart above is from Jan 2011 to January 2018 and it depicts the absorption rate of real estate specific to the  Mission Hill, Vernon BC sub area or neighbourhood with the North Okanagan zone.  

From 2011 to early 2016 sellers often faced absorptions rate of more than 12 months based on the number of properties on the market compared to the number of sales. Fast forward to  2017 where much of the year there was often less than 5 months supply!

Historic Look At  Mission Hill, Vernon BC Real Estate Sales Volume  

This chart reflects the MLS® property sales by month. The trend line shows clearly that sales volume has climbed steadily - although the jagged variation shows  the seasonal nature of Okanagan real estate sales activity, with less sales in the winter months.

Historic Trend of Active Listings  

You can see that the number of properties brought to the market in recent years is trending downward. The first chart we showed you - the absorption rate - is a direct result of the reduction of properties coming to market in combination with the second chart - which shows the increase in properties SOLD. Trends like this tend to favour sellers.

Historic Median / Average Days On Market Trends for  Mission Hill, Vernon BC Residential Sale 


 This chart shows the comparison between the average days a property was on the market. ( From Activation to Final Subject Removal) .  Mission Hill, Vernon BC properties prior to early 2016 generally needed more time on the market than in some other neighbourhoods to get sold. However, right priced properties in Mission Hill in 2017 sold very quickly with average days on market below 3 months most of the year.

Historic Median Sale Price Trend for  Mission Hill, Vernon BC 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. As you can see, the middle of the market value has continued to rise over time, though the amount of the increase is smaller than in some other neighbourhoods.

Thank you for taking the time to look at our  Mission Hill, Vernon BC market synopsis. Please feel free to share it with your friends and neighbours, and especially anyone you may know that might be looking for help selling or buying in  Mission Hill, Vernon BC.

Cheers!

Chris, Brent, Shelby, & Brell
REALTORS
® along with the amazing
Diane, Kendra, Natalya and Yania