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Shuswap Residential Real Estate Statistics September, 2017

Brenda Ellis

Brenda Ellis, most frequently known as Brell, is a partner, mom, grammie, friend and a REALTOR® you’ll want to connect with...

Brenda Ellis, most frequently known as Brell, is a partner, mom, grammie, friend and a REALTOR® you’ll want to connect with...

Oct 24 5 minutes read

Typically in our Okanagan Shuswap real estate region, the market changes first in the South, and gradually works its way North - from The Central Zone to the Shuswap.

The chart below shows the change in market demand compared to available inventory -what we call the Absorption rate - expressed in months - as to how long it would take at current demand to consume the properties available.

Shuswap Zone (Salmon Arm to Revelstoke):

In February of 2009 - it would have taken 54.40 months (hmmm insert Band reference here) - yes that is indeed 4 and 1/2 YEARS! 

In may of this year the Shuswap experienced it's most robust month  with just over 6 months supply of real estate available. Currently slightly more (6.81 months) of product is listed for sale.

Top Sale in The Shuswap Zone:


411 Coach Road, Sicamous, V0E 2V0
MLS® #:10132281Status:Sold

Zone:Shuswap / RevelstokeSub Area:SM - Sicamous


Price:$1,450,000
Orig Price:$1,450,000
Sold Price:$1,275,000
Days to Sell:161

 

Marketed As:

WATERFRONT HOME FOR SALE ON MARA LAKE in SICAMOUS COMES WITH A LICENSED DOCK. Pride of ownership shows the moment you enter the home from the design & quality to the care and attention both inside & out. At about 5,500 sf between an original home built in about 1978 & the adjoining structure built in 2010, there are 2 kitchens, 6 bedrooms, 4 1/2 baths, a sun room, 2 living rooms & 2 family rooms including one large enough for a billiards table. There is a single car garage, lots of parking & storage. Built in 2010, the newer side has a custom-designed kitchen with granite counters, a large island & a walk-in pantry. The main level also includes laundry, bedroom or office & a 2 pce bathroom. The Master Suite in the loft is about 941 sf & includes a sun-room with french doors, a tiled steam shower & two walk-in closets. The property is perfect for multi-family purchase or primarily use one side to live in or vacation at and keep the other as a space for self-contained guests or to rent. 

 

Here are the numbers from OMREB, for the Shuswap Revelstoke residential MLS® real estate market in September 2017.  

The following charts are based on September 1st - 30. 

Shuswap Real Estate Market Update for September 2017

Condo Apartment
 
Listings Sold
 6
New Listings
 5
Current Inventory
 41
Absorption Rate Sell/List
 14.63%
Months of Inventory on Hand
  7 Months
Days to Sell (Average)
 180
Days to Sell (Range)
 35  to  647
Average Sale Price
$300,150
Median Sale Price
$287,450
Range of Sales Prices
$185,000 - $455,500

Hottest Neighbourhood
 Revelstoke
Condo Townhouse
 
Listings Sold
 11
New Listings
 12
Current Inventory
 43
Absorption Rate Sell/List
 25.58%
Months of Inventory on Hand
 4 Months
Days to Sell (Average)
 133
Days to Sell (Range)
 30  to  332
Average Sale Price
$319,227
Median Sale Price
$289,000
Range of Sales Prices
$189,000 - $660,000

Hottest Neighbourhood
 Sicamous
Building Lot
 
Listings Sold
 34
New Listings
 43
Current Inventory
 345
Absorption Rate Sell/List
 9.86%
Months of Inventory on Hand
   10 Months

Days to Sell (Average)
 242
Days to Sell (Range)
 9  to  2,120
Average Sale Price
$159,404
Median Sale Price
$128,450
Range of Sales Prices
$26,000 - $765,000

Hottest Neighbourhood
  Blind Bay

Residential Homes
 
Listings Sold
 53
New Listings
 82
Current Inventory
 235
Absorption Rate Sell/List
 22.55%
Months of Inventory on Hand
  4 Months

Days to Sell (Average)
 62
Days to Sell (Range)
 4  to  308
Average Sale Price
$416,734
Median Sale Price
$365,000
Range of Sales Prices
$97,000 - $1,275,000
Hottest Neighbourhood
 North East Salmon Arm

Ratio of Sales vs Inventory      19.01%

 Totals include variables in any given due to previous month’s collapsed sales and deleted listings. e & eo


 

 

 

 


 

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