Charlie Veaudry

Serving you with passion!

 

Having lived in Vernon, British Columbia for over 24 years, I have to say I have a bit of a soft spot for this quaint little town. It's a friendly place with a great community, a good location between Vancouver and Calgary, but often people ask, "What is there to DO in this sleepy little town?". Below is a list of the first 5 I could think of, but there are more. Many!

#1. Downtown Vernon. Downtown Vernon is small, inconspicuous gem. East Hill is one of the best neighbourhoods to live in that allows you to enjoy easy access to some of the best coffee shops, restaurants and botique shops that Downtown has to offer. And don't forget to check out the Sunshine Festival in June.


#2. Kalamalka Lake Park. Only a 10 minute drive from downtown Vernon, Kal Lake Park is a great way to “get out of town” and enjoy hiking, biking, swimming or just enjoying the view.


#3. Silver Star Mountain & Sovereign Lakes. Depending on your preference, a ride up the mountain will take you to Sovereign Lakes (20 minues) where you can enjoy the x kilometers of cross country trails, or continue 15 minutes more and reach Silver Star Mountain Resort where you can enjoy The Village or spend the day on the world class slopes.


#4. North End Hub. In case you thought Vernon was just a small town, the north end of the city still offers all the large shopping options that a bigger city offers. With most of the newer developments happening here, Vernon gives you a nice option of the more fast-paced north end, but leaves you with the option of a small town feel with the downtown core.



#5. Three Lakes. Yes, that’s right. Vernon offers not one, not two, but three lakes. The smallest of the lakes is Swan 

Lake, located to the north end of the city, it is less used for swimming but one of the favorate spots for the Vernon Rowing 

Club. The second largest is Kalamalka Lake. Known for it’s turquoise beauty, it offers great swimming, lakefront 

properties and a plethora of water sports and activities. The biggest lake, Okanagan Lake, starts in Vernon and 

ends 135kms south in Penticton. A great place for swimming, boating and sailing, Okanagan Lake offers coutless things to do all through the Okanagan Valley.


So there a just a few things that make Vernon so fantastic. If you want to pick my brains, or have a specific question about this wonderful little town, please don’t hesitate to give me a shout!


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The spring market continues to strengthen with rising sales, falling inventory and prices solidifying.

 

Sales

 

The total sales for the 12 months ending March 2014 were at 835, up 14% from the 12 months ending March 2013 and the highest volume of sales in the last 4 years since 2010.

 

Inventory

 

The average monthly inventory of single family homes dropped to 618 for the last 12 months ending in March 2014, the lowest average inventory we have seen in the last 6 years. Inventory has not been this low since 2007 which is before the start of the recession that started in March, 2008.

 

Prices

 

Average median prices continue to rise. At $341,044, average median prices for the last 12 months ending in March 2014 rose 4.8% over average median prices for the 12 months ending in March 2013. This increase is for average median prices across the board and is largely due to the fact that prices on higher end homes have been reduced so much that sales are now starting to recover. This is causing the illusion that prices are increasing in all home categories and that is definitely not true. 

 

For instance, right now some price ranges in some neighbourhoods are starting to rise slightly but other price ranges have just stabilized or are still dropping slightly. Therefore, overall average price in any given marketplace cannot accurately predict what is happening. I have found that using an HPI (Home Price Index) works best. This HPI considers all the sales of a typical house in a certain area and compares them to the same type of houses sold in the previous years. We find when we do an HPI that house prices are doing different things in different areas and in different price ranges. I would be happy to do an HPI evaluation on any property you have. Simply give me a call or email.

 

Absorption Rate

 

The rate at which our inventory is being absorbed by sales rose to an average of 11.17% over the 12 month period ending March 2014, the highest in the last 6 years. At the end of March 2014, there was 6 months of inventory available on the market.

 

From these numbers, it looks like we can expect the market to continue to rise as we enter the busy spring market. April sales this year month-to-date continue to show improvement over April 2013 so we are experiencing an early start to the spring 2014 real estate market in the North Okanagan.

 

The market over the next 12 to 18 months will be characterized by continued increasing sales and lower inventory moving strongly towards a market that will favour Sellers with more competition from Buyers and higher prices. Prices will continue to rise as consumer confidence gathers momentum and brings with it more Buyers.

 

If you have any questions about the market, please feel free to contact me at any time. You can go to my stats page on my web site with graphs and full detailed data.

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Finding your dream home is just a click away, start your search!  Search Now

contact me anytime

Office Location:

5603 27th Street Vernon BC V1T 8Z5 CA

Charlie Veaudry

I make myself available at all times. My web site is here to help you 24 hours a day. You can search listings at your own convenience, browse reports, and read up on real estate info on your own terms. When you are ready to see a listing in person, or just have a simple question, please dont hesitate to contact me!

 

When you make the important decision to buy or sell a home, I am committed to going the extra mile to ensure that all of your needs are successfully met in a professional and honest manner.

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