Get the Top, Local stories delivered to your inbox! Click here to join the daily Vernon Matters newsletter.
By Corey Fischer
Sales, House Prices Decline

Sales, House Prices Decline

Feb 4, 2019 | 4:00 PM

The valley’s real estate market has been as cold as the recent weather.

The Okanagan Mainline Real Estate Board says residential sales in January for the region from Revelstoke to Peachland amounted to 310 sales, down 4% from December and a decrease of 31% from one year ago.

President Marv Beer says government intervention continues to have an impact, and making some first time buyers wait longer.

“Buyers, particularly first-home buyers, are likely having to wait longer to realize the dream of home ownership or lessen expectations of what they can afford as a result of stricter housing-related policy,” says Beer, a Salmon Arm Realtor.

The average house price of $482,749 is down 8% from a year ago.

Election 2026
Vernon business owner looking to win seat on City Council
16m ago
Water Shut Off Response
Fruit Growers Association call for plan to support farmers amid water shortage
19h ago
42-Unit Project
Fees waived for new supportive housing project in Vernon
19h ago

Average days on market rose to 102 compared to 99 for both December and last January.

“Typically, when properties take longer to sell, prices tend to moderate as conditions often give buyers an advantage and more opportunity to negotiate,” says Beer, noting that slower activity is characteristic of the time of year.

New listings more than doubled December’s count, with 913 compared to 426 last month and 19% higher than last January.

“This is the highest volume of new listings we’ve had for some time now,” states  Beer, adding “While we’re not out of the woods yet, this will help alleviate chronic housing supply shortages.”

by Corey Fischer

Other Matters

Election 2026
Vernon business owner looking to win seat on City Council
A local business owner will throw his hat in the ring for the upcoming municipal election. David Scarlatescu, owner of the Fig Bistro and co-founder of Millennium Valley Productions, announced he would run in the Local General Election for a seat on Vernon City Council.Scarlatescu has lived in Vernon for the last 20 ye...
17m ago
Read More
Clearer Forecast
Air quality improves across Okanagan after wildfire smoke blankets region
Air quality conditions are improving across the Okanagan after wildfire smoke blanketed much of the region Thursday, creating hazy skies and unhealthy conditions for some residents.Smoke from multiple wildfires burning across British Columbia moved into the Southern Interior, affecting communities throughout the valley...
25m ago
Read More
Municipal election
Local media business leader to run for city council
Local businesswoman Nikki Csek is taking a run at Kelowna City Council in the October election.The founder and CEO of Csek Creative and NowMedia Group, said her campaign isn't the beginning of her service to Kelowna but simply the next way she hopes to serve.She's served on boards, chaired organizations, and volunteere...
17h ago
Read More
Water Shut Off Response
Fruit Growers Association call for plan to support farmers amid water shortage
The province's fruit industry advocacy group has called for a halt in the current water management approach for local agricultural properties. As of July 13, Greater Vernon Water (GVW) was authorized to shut off water service to agricultural properties that had reached their seasonal water allocation limit.B.C. Fruit G...
19h ago
Read More
42-Unit Project
Fees waived for new supportive housing project in Vernon
A new supportive housing project in Vernon will get some municipal support.At their meeting on Monday, July 20, Vernon City Council was asked to waive the Development Cost Charges (DCCs) for the project at the site of the former Polson Park Motel on 24th Avenue.City staff recommended waiving $125,518 in fees and coveri...
19h ago
Read More
New Charge
Man accused in Bailey McCourt killing faces additional charge
The man accused of killing Bailey McCourt is facing another criminal charge.James Plover appeared in court Wednesday on an allegation he breached a no-contact order in Pitt Meadows last September.Plover is already charged with first-degree murder in the death of his estranged wife, who was allegedly attacked with a ham...
21h ago
Read More
Investigation underway
One person deceased after fire at North Okanagan farm
A tractor fire at a farm north of Lumby has claimed the life of one person.At around 2:25 p.m. Wednesday, July 22, police and firefighters were called to a farm in the 1300-block of Trinity Valley Road for a report of an out of control fire.The fire started from a tractor and baler then spread to the fields, nearby tre...
23h ago
Read More
Burning Garbage
Fine issued for illegal burning case in Lumby
A North Okanagan resident has been fined under the Wildfire Act.At around 8 a.m. Friday, July 17, Lumby Fire Department were called out to a rural property east of the community for a burning complaint.Firefighters arrived on the scene and found a man had lit a fire, contrary to the existing ban, and was burning garbag...
23h ago
Read More
Severe Drought Conditions
Lake Okanagan level dips to record low as drought conditions continue
The water level at Lake Okanagan has dipped to a new low.The B.C. River Forecast Centre said the daily water level has dropped to its lowest point on record dating back 80 years. The black line indicates the current daily water level for Lake Okanagan, which was at a historic low (Image Credit: B.C. River Forecast Cent...
23h ago
Read More

What Matters

Election 2026
Vernon business owner looking to win seat on City Council
16m ago
Water Shut Off Response
Fruit Growers Association call for plan to support farmers amid water shortage
19h ago
42-Unit Project
Fees waived for new supportive housing project in Vernon
19h ago
Investigation underway
One person deceased after fire at North Okanagan farm
23h ago
Burning Garbage
Fine issued for illegal burning case in Lumby
23h ago