Market Update: October 2023

HELLO NOVEMBER! Who is ready for winter season in the Shuswap?

As you may have guessed the market in the Shuswap is slowing down for the winter season, however we did see more new listings in October than August this year, likely due to the terrible fire we experienced in the North Shuswap.

4 homes sold over the $1 Million dollar mark this month, with the highest sale being $1,525,000.

Median sale price is down from $746,000 in October 2022 to $675,000.

We think we will continue to see the market stay slow through the winter and as always it will pick up in the Spring, maybe even more than the previous years if we see interest rates start to drop in Q2 of 2024. What do you think?

This update is focused on Single Family Residential homes (freehold) in the Shuswap including Salmon Arm, Sorrento, Blind Bay, Eagle Bay, Sicamous, the Salmon Valley, Tappen, and North Shuswap.