Welcome to your monthly snapshot of the Salmon Arm real estate market, offering a clear and concise overview of June 2025's activity. Our aim is to provide you with actionable insights, helping you navigate buying or selling decisions with confidence.
June 2025 Sales: We saw 24 single-family detached homes sold in June, a positive increase from 22 sales in June 2024. This 9.09% rise suggests a steady demand in our local market. This uptick in sales indicates a healthy, active market, suggesting that buyers are finding opportunities and sellers are successfully connecting with them.
Year-to-Date Performance: Looking at the bigger picture, 111 homes have sold year-to-date in 2025, up from 107 in the same period last year (a 3.74% increase). This consistent growth indicates a resilient market.
New Listings: June 2025 saw 32 new listings, a decrease of 13.51% compared to 37 new listings in June 2024. Year-to-date, new listings are down slightly by 3.06%.
Active Inventory: Our active inventory at the end of June stood at 113 homes, a 4.24% decrease from 118 last year.
Months Supply of Inventory: The current supply sits at 6.61 months, a notable 15.45% decrease from 7.82 months last year. This metric suggests a more balanced market leaning slightly towards sellers. While new listings have seen a slight dip, the reduction in overall inventory and months of supply points to a market where available homes are being absorbed more quickly. For sellers, this could mean less competition and potentially more focused buyer attention. For buyers, it emphasizes the importance of being prepared to act when the right home appears.
Average List Price: The average list price in June 2025 was $744,875, a 2.57% increase from $726,232 in June 2024.
Average Sale Price: The average sale price for June 2025 reached $716,496, up 2.64% from $698,084 last year.
Sale Price to List Price Ratio: Homes are selling, on average, for 96.31% of their list price, a slight increase of 0.08% from last year, indicating strong pricing stability. The consistent upward movement in both average list and sale prices underscores the sustained value of real estate in Salmon Arm. The strong sale-to-list price ratio further confirms that properties are being valued accurately and are holding their worth in transactions.
Average Days on Market (DOM): Properties in June 2025 spent an average of 59.33 days on the market before selling, an increase of 14.50% from 51.82 days last year. While we've seen a modest increase in the average days homes spend on the market, it's important to view this in context. This slight extension suggests that buyers are taking a bit more time to make decisions, and strategic pricing remains key for sellers looking for a swift transaction.
For Sellers: The slightly reduced inventory and steady demand mean that well-priced and well-presented homes continue to attract strong interest. Understanding the current market's absorption rate can help in setting realistic expectations for your sale timeline.
For Buyers: While the market remains competitive, the slight increase in days on market might offer a bit more breathing room for due diligence. Being pre-approved and clear on your priorities will position you strongly to secure your desired property.
We value your thoughts on this market update! Please feel free to share any comments or feedback you may have.
If you're looking for market statistics or insights for other areas in the Shuswap, please don't hesitate to reach out to me directly:
Jeff Ragsdale
Email: jeffragsdale@royallepage.ca
Call or Text: 250-253-7991
Disclaimer: Data compiled from the Association of Interior REALTORS. Information is deemed reliable but not guaranteed. Does not reflect all market activity.