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The HOLM Stretch | December 20, 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 Holidays from Chris Holm & Associates! ✨🎄
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As the year comes to a close, we want to express our heartfelt gratitude for allowing us to be part of your journey. Whether you’ve found your dream home, made an exciting investment, or are planning for the future, it’s been our privilege to assist you every step of the way.
This season, we wish you and your loved ones warmth, joy, and unforgettable moments. May your holidays be filled with peace, laughter, and the comforts of home.
Here’s to a bright and successful New Year ahead—we look forward to continuing to serve you in 2025!
With gratitude,
CHRIS, PATRIC, JULIE, JASMINE, KRISTI & BRELL
Where are home prices headed? Key expert forecasts and trends
Whether you’re actively looking to buy or sell, or just keeping an eye on the market, it’s always helpful to stay informed.
We wanted to share some expert insights into where Canadian home prices might be headed in the coming years.
Here’s what experts are predicting for 2025 and beyond:
CREA projects a 5% increase in home prices in 2025, bringing the national average to $729,319.
BMO economists expect home prices to continue growing by 3% annually from 2025 through 2027.
A few key trends are likely to shape the housing market:
👉 Interest rates: According to BMO, the average 5-year mortgage rate is expected to fall to 4.25% by 2027, making homeownership more affordable over time.
👉 Income growth: BMO also forecasts that incomes will rise just under 3% annually, giving more buyers the financial flexibility to offset increasing home prices.
👉 Government policies: TD Economics highlights new federal measures, like 30-year amortizations for first-time buyers, which could stimulate demand and influence home prices in certain areas.
👉 Population growth: Both BMO and TD Economics agree that while Canada’s population growth is expected to slow, it will still support housing demand in the coming years.
The market is always changing, but these insights give us a clearer view of the trends that will likely shape Canadian home prices over the next few years
Scroll down for our regular real estate and community features.
In North Okanagan Real Estate
As of the morning of Friday December 20, there are 658 homes showing as active listings here in North Okanagan. On December 13, there were 686 homes active.
Sales ranged from $48,000. to $2,100,000. Days to sell ranged from 14 to 504. 19 listings expired, 12 were cancelled.
11 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.
$48,000.
Low Sale
26
New Listings
$2,100,000.
High Sale
22
Listings Sold
ICYMI...
WHAT'S HAPPENING?
WHAT ELSE WE ARE TALKING ABOUT
Make your holiday season easier and boost your home value?
Yes please!
This time of year is a blast—but if you’re the go-to holiday host, it can also mean a bunch of extra stress. That’s why you need to upgrade your kitchen before (yes, before!) the year’s end.
How? That’s what we're covering today on the blog.
These 10 kitchen improvements will make your life easier, and as a bonus, they can improve your home’s value, too.
2024 Kitchen Upgrades for Holiday Hosts
Quick and easy kitchen upgrades to transform your space for holiday hosting, from smart ap...
MAKING TRACKS
South Okanagan cross-country ski area has new managers, instructor, website - Making Tracks
Nickel Plate Nordic Centre has a new management team, a new Ukrainian champion instructor ...
WEEKLY REAL ESTATE REPORT
Armstrong BC Real Estate Recap
A look at Armstrong Spallumcheen Market Activity for the last 7 days.
0
New Listings
2
Listings Sold
0
Price Up
2
Price Down
Vernon BC Real Estate Recap
A look at the Vernon market activity in the last 7 days
19
New Listings
15
Listings Sold
0
Price Up
7
Price Down
Coldstream BC Real Estate Recap
A look at Coldstream market activity over the last 7 days
2
New Listings
4
Listings Sold
0
Price Up
2
Price Down