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Newton Townhomes – selling soon! Starting in the mid $500,000’s incl GST

Newton Townhomes are a new way of living in central Vernon. Sophisticated, contemporary and fun architecture is highlighted by a rich mix of low-maintenance materials and bold colours paired with large black windows to create a strikingly modern aesthetic with timeless curb appeal. Private and shared outdoor spaces, like the children’s play zone, create a welcoming community where you’ll get to know your neighbours by name. Contact Nik Roughton PREC* Value Plus 3% Real Estate INC to learn more 778-212-3737  

Market Outlook for February 2023

Sellers Market activity continues to be moderate as we enter 2023. While some buyers have come to accept the higher interest rates. Others are need based purchases; moving here to the North Okanagan after selling their home in another area of BC or out of province, along with changes in family dynamics. Interestingly enough due to the lack of inventory in certain segments of the market, for example well priced single family homes with suites are still able to generate multiple offers with some opting to wait a few days after listing their home to review any and all offers. The benchmark price for single family homes in North Okanagan saw a moderate decrease of 5.5% in January 2023 when compared to January 2022. The benchmark price for single family homes now sits at $696,500. In all other categories of housing there was a slight increase. With townhomes coming in at 7.8% increase when compared year-over-year and condos 5.8% increase. Looking into 2023 we anticipate inventory levels to continue to increase giving more choice to buyers. The overall affect will be a more balanced market between buyers and sellers. Buyers Whether you are looking to jump into home ownership or if you are planning to move from one property to another, the first step I would recommend is getting pre-approved with a reputable mortgage broker or bank.  This will help you be successful in setting the expectations for your affordability range and guide us to showing you the homes that would be most suitable for you. Reach out to a Value Plus 3% Real Estate agent for a list of local mortgage brokers who can set you up for success! To view the full release of market stats click on the link below January 2023 – Data Release    

November 2022 Market Stats for North Okanagan

Novembers statistics for the North Okanagan show the slow down in sales and activity in the real estate market. While the benchmark price for a single family home in the North Okanagan remains steady at $710,200 we are starting to see longer days on market with an average of 49 and increased inventory up to 255.   November 2022 – Data Release

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