Across the North Okanagan, April sales came in at 129, down almost 10% from last year, while active listings sat at 958, down 3.6% year-over-year. That puts the overall market at about 7.4 months of inventory, solidly in buyer territory, though the picture looks different depending on property type.
Single-family homes are sitting right at the edge of a balanced market, with buyers and sellers negotiating about 2.3% off list price and homes taking around 55 days to sell. Townhomes are doing even better, with sales matching last year's pace and the benchmark price climbing toward $600,000, close to the 2022 peak.
Condos are the softer spot in Vernon right now, with nearly 10 months of inventory and only 10 sales in April, about 12% below last year. The benchmark condo price sits around $320,000, making it the most accessible entry point for first-time buyers in the area, even with the slower sales pace.
If Vernon is on your radar, whether you're buying or selling, I'd be happy to talk through how the numbers apply to your specific property type. Reach out any time.
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