Home Buying in North Okanagan

Posted by Gillian Krol on Friday, January 8th, 2016 at 10:29am.

Home in North OkanaganHome in Jasper Drive, Vernon BC

The northern region of Okanagan provides for outstanding amenities and features for individuals looking to purchase real estate here. It is home to more than 81,200 people and covers some 7512 square km. It is the location of three larger cities including Armstrong, Vernon and Enderby. It is also home to the Village of Lumby. What is home buying here going to do for you? Take into consideration all that this region has to offer.

Home Prices in North Okanagan

One of the most important factors in choosing a home in this region is looking at local amenities and features. As an overall region, the area of Okanagan has home values around $400,000. However, it is quite possible to find homes in the range of $250,000 to $450,000 as well. In addition to this, you will find more affordable homes and luxury real estate here. The type and amount of homes you are looking for is likely to be available.

When considering when to buy, though, realize that home values in the area are rising. The key reason for this is the limited number of homes available for sale. Increased inventory isn't likely anytime soon either. This has led to home values in North Okanagan rising about 25% in some areas compared to early 2014. However, it is unlikely that this level of demand going to increase at the same level going forward. Home values will likely grow, though, as inventory remains low.

For those considering an investment in real estate in North Okanagan, any of these cities can be the ideal choice. However, it is important to work with an experienced real estate agent since this is somewhat of a volatile market with rates of growth so high and inventory so low. Yet, it is possible to get a good deal on pristine real estate here. Whether you want a view or you want a modern, upscale condo in the heart of the city, it's here for you.

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