I got a call to do a market evaluation on a home on just over an acre in the North BX so in working to prepare for that appointment I am looking at real estate sales in that sub area or neighbourhood of Vernon BC over the last year in particular – but also looking back over the past years from 2005 forward. For more information about North BX, Visit our North BX Neighbourhood Page.
Here is a look at what the market has looked like in the North BX. In 2010, this area make up approximately 4% of the total value of real estate traded in the North Okanagan, and also about 4% of the sales volume.
2010 North BX Properties Sold (53) | |||||||
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| List Price | Sold Price | DOM | Beds | Total Baths | Finished Floor Area |
Min | $35,000 | $30,000 | 4 |
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Max | $953,700 | $875,000 | 375 | 6 | 6 | 5705 | |
Avg | $422,272 | $403,795 | 108 | 3 | 2 | 2062 | |
Sum | $22,380,400 | $21,401,150 | |||||
Here is how the number of sales transactions compared to previous years:
Of the residential real estate sales that occured in North BX almost all were in the Single family home catagory:
And within the single family home designation, the property types sold broke down into the following classifications:
Let’s look at the stat overview for the 2 types of properties that sold:
North BX 2010 Single Family Homes Sold (31) | |||||||
List Price | Sold Price | DOM | Beds | Total Baths | Finished Floor Area | ||
Min | $165,000 | $166,000 | 4 | 2 | 1 | 745 | |
Max | $953,700 | $875,000 | 336 | 5 | 6 | 5705 | |
Avg | $381,000 | $367,287 | 84 | 3 | 2 | 2010 | |
Sum | $11,811,000 | $11,385,900 | |||||
North BX 2010 Single Family Homes on Acreage Sold (17) | |||||||
List Price | Sold Price | DOM | Beds | Total Baths | Finished Floor Area | ||
Min | $295,000 | $270,000 | 12 | 2 | 1 | 940 | |
Max | $799,000 | $750,000 | 375 | 6 | 5 | 4259 | |
Avg | $558,324 | $529,897 | 141 | 3 | 3 | 2580 | |
Sum | $9,491,500 | $9,008,250 | |||||
The size of the land with the homes on acreage ranged from one acre to 10.23 acres. Three of the properties sold were on more than 5 acres. The majority of properties (6) sold were on 4-5 acre parcels and 4 of the properties sold in 2010 were on parcels of 1-2 acres.
So keep in mind that properties range from mobile homes to executive homes on acreages - and there is no strata or multifamily product to temper values when you look at the price trends for North BX.
I won’t really know where the home I am evaluating sits until I see it first hand. But I can deduce that there was some demand for this type of property given the 4 sales
Check out our other 2010 Neighbourhood Recap Reports.
(250)549-2103 Office Reception
1-877-227-4073 Toll Free
(250)308-4310 SMS
Century 21 Executives Realty Ltd.
2907 - 32nd St.
Vernon, BC V1T 5M2
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