Vernon Real Estate

[trudik]

I am wondering if anyone can give me a quick recap of the current real estate market in Vernon area? What is the outlook for new housing starts in 2010? Are older fixer upper homes priced well enough to support a flip? I appreciate any thoughts.

[Brell]

Hi,
Indications look good for a spring market in the North Okanagan / Vernon BC real estate for 2010. We watch the inventory levels, and the median sold price. The Median sold price bottomed out last March at $309,000. It has been stable for the last 5 - 6 months hovering in the $345K - $355K range - so it still has some to climb in order to regain its ground.

We have to wait for December statistics to be sure - but it was looking like the 2009 market was down in the 5% area from 2007 based on year to date median pricing.


Warmest regards,
Brell

[trudik]

Sorry Brell, don't have my 6 posts yet to PM. Thanks for the info. I take it you are in Real Estate? Can you recommend any good realtors in the Vernon area? We are planning on heading down to Vernon this summer if all goes as planned. Anybody else have any suggestions?