Stock photo (ID 211486861 © Eberdova | Dreamstime.com)

By Liam Verster

Housing Market Report

Local housing prices mostly dipped in October

Dec 3, 2024 | 1:30 PM

The North Okanagan’s housing market took a turn for buyers in October.

The Association of Interior Realtors data showed then benchmark prices for single family homes in the North Okanagan was $744,000 in October, marking a 1.9 per cent drop from the prices in the same month the previous year.

Apartment and condominium prices also fell by six per cent on an annual basis to $312,400 in October.

However, the Association’s data did show that townhouse prices rose 2.1 per cent from the previous October to $584,000 this past reporting month.

The Association noted that there were 68 single family home sales, 21 townhouses sold, and nine apartment/condo sales in the North Okanagan in October. The single family and townhouse sales figures were down on an annual basis, while the apartment/condo sales were unchanged from the previous October.

Housing Market Report

Local housing prices mostly dipped in October

13h ago

Choose To Shop Locally

Greater Vernon Chamber running Rally the Valley shop local campaign

14h ago

Be Safe Behind the Wheel

Road Safety at Work urges caution when traveling over the holidays

15h ago

Data from the Interior Realtors also showed that new listings dipped on an annual basis, though active listings were still up above the last October’s figure.

Elsewhere in the region, the Association of Interior Realtors reported declining prices for all housing types in the Central Okanagan. The Shuswap/Revelstoke area saw single family and townhouse prices rise, but apartment/condo rates decline. The South Okanagan, meanwhile, saw prices for single family homes and townhouses increase, while apartment and condo prices dipped on a yearly basis.