Low Housing Inventory Signals A Good Time To Sell In Salmon Arm
Posted by Marv Beer on
Looks like a good time to act if you're thinking of selling your home or condo in the Salmon Arm and Okanagan regions.
The latest real estate market statistics report (for March) released by the Okanagan Mainline Real Estate Board (which includes the Shuswap and Salmon Arm areas), show that inventory is very low across the area.
That means it's a seller's market right now. And it's spring, the time of year when many people look to purchase a new home or property.
According to the OMREB, the inventory level is 37% lower than it was at this time last year.
“While sales volumes and other indicators are reflective of this time last year, our market continues to be hampered by a lack of properties for sale,” said Tanis Read, the…
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When it comes to selling your home, there are many things you can and should do to maximize the return you'll get, while setting yourself apart from the competition found in a buyer's market. These are five of the important things to consider when you're ready to list your house, whether it's in Salmon Arm or anywhere else.
Home sales picked up in the Shuswap and Okanagan regions last month, while home prices are up on a year over year basis.
increases in the assessed value of their properties and getting worried about what that could mean at tax time. Â
This week, the Liberal government made a move to attempt to curb the demand for high priced homes in Canada. How will this affect our market here in the Shuswap?
Shuswap Lake, once a rugged area visited only by regular devotees, has rapidly evolved into a top seasonal getaway destination and is widely viewed as the pinnacle of out-of-city relaxation in style and comfort. Highly desirable, prime real estate is scattered bountifully throughout the region and a Shuswap cabin or cottage has become a hot commodity that signifies that elusive, idyllic and well-rounded British Columbian lifestyle.
It comes as no surprise to see the summer population of the Shuswap towns increasing year after year. And now, more and more vacationers are expanding their summer stays well into fall, or getting a kick start in early spring. After renting and falling in love with the region, a few of those former visitors take the plunge to become Shuswap property owners, and when they do they often consider the investment opportunities. Baby boomers in particular are major investors in the area, with the aging demographic seeking a quiet place to retire, and hot summers certainly don’t hurt!
Are you considering a home purchase in the next few months? Will you be obtaining a "high ratio" mortgage with at less than 10% of the purchase value as a downpayment? If so, here's something you'll need to know.
We’ve been working on revamping our Salmon Arm and Shuswap real estate site for a while now, and it’s with great pleasure that we present the new Royal LePage Access Real Estate website.