2017 Property Sales in Coldstream, Vernon, BC

2017 Property Sales in Coldstream, Vernon, BC

Criteria:  

MLS is 'OMREB'

Major Area is 'North Okanagan'

Sub-Area is 'CS - Mun of Coldstream'

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 139 homes, 5 apartments, 9 townhouses, 9 manufactured homes, 24 land property sales, and 1 recreation property.

Coldstream Key Performance Indicator Review 2017 

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 Coldstream sub area or neighbourhood with the North Okanagan zone.  

From 2011 to mid 2015 sellers often faced absorptions rate of 2 years or more based on the number of properties on the market compared to the number of sales. Fast forward to  2017 where most of the year there was less than 5 months supply.

Historic Look At Coldstream 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 Coldstream Residential Sale 

This chart shows the comparison between the average days a property was on the market. ( From Activation to Final Subject Removal) . Coldstream properties generally need more time on the market than in some other neighbourhoods to get sold as they are in a higher price point. However - you can see the downward trend over time as market activity has picked up since 2014.Historic 

Median Sale Price Trend for Coldstream 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. Because of the variety of sizes and types of properties sold at Coldstream (Lots to Lakeshore luxury) the measure of the middle of the market is not as meaningful as it is in other neighbourhoods. It is mandatory to evaluate the properties that sold to gain understanding of the true TRENDS.

Thank you for taking the time to look at our Coldstream 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 Coldstream.

Cheers!

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