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The HOLM Stretch | January 3, 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!
Welcome to 2025! We are going to start the year off with a look at the North Okanagan Single Family Detatched home price trend over the last 10 years. This chart shows the median (middle) price of homes sold by month. Clearly you can see that the overall trend in home pricing has gone way up over the 10 year period. Jan 2015 the median sale price was $337,750. and in December 2024 it was $767,500. The resulting gain to property values equaled $429,750.
and this data looks at the median price of homes sold per month in the North Okanagan over the last 5 years.
The increase in home prices over the decade reflects strong growth, likely driven by factors such as increased demand, limited supply, perhaps some regional economic development, and possibly the broader trend of rising real estate prices in desirable areas.
A 127% increase over 10 years is a notable appreciation, pointing to the North Okanagan's growing appeal and value as a residential area.
Talk soon,
CHRIS, PATRIC, JULIE, JASMINE, KRISTI & BRELL
Scroll down for our regular real estate and community features.
In North Okanagan Real Estate
As of the morning of Friday January 3, there are 601 homes showing as active listings here in North Okanagan. On December 27, there were 639 homes active.
Sales ranged from $189,000. to $1,290,000. Days to sell ranged from 16 to 162. 32 listings expired, 9 were cancelled.
6 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.
$189,000.
Low Sale
15
New Listings
$1,290,000.
High Sale
13
Listings Sold
ICYMI...
WHAT'S HAPPENING?
WHAT ELSE WE ARE TALKING ABOUT
The BC home flipping tax applies to the profit you earn from selling a property in British Columbia (including presale contracts) if you owned the property for less than 730 days.
The tax is imposed under the Residential Property (Short-Term Holding) Profit Tax Act, which takes effect starting January 1, 2025.
Property purchased before the tax’s effective date may be subject to the tax if sold on or after January 1, 2025 and owned for less than 730 days, unless an exemption applies.
The BC home flipping tax is separate and distinct from the federal property flipping rules and is not harmonized or administered with the federal or B.C. income tax. It is intended to discourage short-term holding of property for profit.
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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.
0
New Listings
0
Listings Sold
0
Price Up
0
Price Down
Vernon BC Real Estate Recap
A look at the Vernon market activity in the last 7 days
8
New Listings
10
Listings Sold
0
Price Up
4
Price Down
Coldstream BC Real Estate Recap
A look at Coldstream market activity over the last 7 days
2
New Listings
3
Listings Sold
0
Price Up
0
Price Down