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The HOLM Stretch | August 30, 2024
Chris Holm & Associates
We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan. We are a true real estate co...
We want you to know that our team is unique in the way we chose to approach real estate here in the North Okanagan. We are a true real estate co...
Thanks for stopping by!
Happy Labour Day! and Happy IPE!!!
This type of home seems to be in low demand ⬇️
"Is there any appeal to them whatsoever?"
⬆️ This question, drawn from a recent article in The Globe and Mail, reflects the growing sentiment among first-time buyers across the country.
With rising home prices and shrinking condo sizes, many first-time buyers are turning away from condos in favor of more spacious options. They’re looking for homes that offer long-term value, fewer fees, and the space needed to grow—qualities that many of today’s condos may not provide.
In fact, a survey found that just 12% of potential buyers are interested in condos, while a significant 77% prefer single-family homes. This trend is particularly pronounced among younger buyers who are increasingly prioritizing space over proximity.
These are the factors driving the shift away from condos:
✔️ Smaller living spaces
✔️ Rising condo fees
✔️ Limited long-term value
✔️ Desire for ownership of land
…but this doesn't mean condos are unsellable in today's market.
While the data shows a trend, there are still buyers who value the convenience and lower maintenance of condo living. Especially here in the Okanagan Shuswap!
Even if you're not planning to buy or sell soon, staying informed about these trends is always helpful (and interesting).
We're here if you have any questions. 🙌
Scroll down for our regular real estate and community features.
Talk soon,
Chris, Patric, Julie, Jasmine, Kristi & Brell
THE TEAM AT CHRIS HOLM & ASSOCIATES
In North Okanagan Real Estate
As of the morning of Friday August 30, there are 1030 homes showing as active listings here in North Okanagan. On August 23, there were 1043 homes active.
Sales ranged from $210,000. to $2,182,000. Days to sell ranged from 13 to 180. 7 listings expired, 17 were cancelled.
20 prices were reduced over the last week.
Scroll down for our market recap for Vernon, Armstrong, and Coldstream real estate activity in the last 7 days.
$210,000.
Low Sale
27
New Listings
$2,182,000.
High Sale
23
Listings Sold
JUST LISTED
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Armstrong BC Real Estate | 2047 Norman Street
Check out this 4 bedroom 3 bath home for sale in Armstrong BC...
Armstrong BC Real Estate | 934 Hutley Road #5
Fully updated 2 bedroom 2 bath single wide home with great new deck. Check it out!...
Vernon BC Real Estate | 83 Peregrine Way #34
You are going to love the view from this 2 bedroom 2 bath lake view home with your own ac...
JUST SOLD
Vernon BC Real Estate | 2727 Lakeshore Road #104
SOLD!! Check out this 2 bedroom 1 bath manufactured home in Holiday Park, Okanagan Landing...
ICYMI...
PICKS OF THE WEEK
WHAT'S HAPPENING?
WHAT ELSE WE ARE TALKING ABOUT
Is living in an HOA worth it?
On one hand, there are rules you have to follow, not to mention that pesky HOA fee.On the other, there are all the services your HOA provides—plus the protection it offers your property value.What else? That’s what we’re covering today on the blog. Check it out, and let us know your thoughts in your reply.
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The Pros and Cons of Living in a Homeowners Association (HOA)
Explore the advantages and drawbacks of living in a Homeowners Association (HOA)....
MAKING TRACKS
Scenic Canyon the result of nature's whims and whams - Making Tracks
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WEEKLY REAL ESTATE REPORT
Armstrong BC Real Estate Recap
A look at Armstrong Spallumcheen Market Activity for the last 7 days.
3
New Listings
1
Listings Sold
0
Price Up
1
Price Down
Vernon BC Real Estate Recap
A look at the Vernon market activity in the last 7 days
16
New Listings
19
Listings Sold
0
Price Up
13
Price Down
Coldstream BC Real Estate Recap
A look at Coldstream market activity over the last 7 days
4
New Listings
1
Listings Sold
0
Price Up
3
Price Down