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Market Update: November 2023

Market Update: November 2023

November Real Estate Recap: A Snapshot of the Shuswap Market

As Christmas is approaching and winter sweeps through the Shuswap, it's time to take a closer look at the real estate market stats from November. 

In November, a total of 32 listings found new owners, signifying continued activity despite the onset of winter. 

One notable factor to consider is the median days on market, which stood at 73. This metric provides valuable insights into the pace at which properties are moving, reflecting a reasonable timeframe for buyers and sellers to connect. The median sale price for November settled at $706,000, revealing a stable and competitive market. Diving into the extremes, the highest price recorded for a property sale this month was an impressive $2,600,000. On the other end of the spectrum, the lowest sale came in at $401,000. 

The dynamics of the market suggest that despite the seasonal slowdown, the Shuswap continues to be a sought-after destination for homebuyers. The variety in sale prices underscores the accessibility of the market, accommodating a broad spectrum of prospective homeowners.

Whether you're a buyer, seller, or a curious observer, these numbers offer valuable insights into the heartbeat of the Shuswap real estate scene. As always, feel free to reach out if you have any questions or if you're considering making a move in this vibrant market.

Happy house hunting!

Armin Hosseini, REALTOR®

Candace Hosseini, REALTOR®

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