Vernon BC Information – Sunny City North East of Kelowna

Photo Credit: FuturesBC

Vernon is one of the commercial centers in the North Okanagan. Located within grassland hills, surrounded by three lakes; Okanagan Lake, Kalamalka Lake and Swan Lake. Vernon hosts a large Vernon Winter Carnival in Western Canada each winter and Vernon hosts the Komasket Music Festival each August long weekend. With year-round leisure and entertainment opportunities, this makes Vernon an ideal place for residents and tourists.

In 2010, Vernon was named the third-best city in British Columbia by MoneySense magazine in terms of urban development, affordable housing, lifestyle and weather, and was rated as the number one entrepreneurial spirit city by the Canadian Independent Enterprise Federation. Vernon ’s historic downtown has many unique local businesses to meet all your shopping needs.

As bicycle lanes and hiking trails expand year by year, more and more transportation systems are expanded (direct access to UBCO), and new public libraries and secondary schools under construction, Vernon will be an ideal place to live. Centennial Drive (30th Avenue) is the most popular because it offers a variety of downtown shopping, services and restaurants.

Photo Credit: Spacelist

Photo Credit: skisilverstar.com

Photo Credit: skisilverstar.com

The ski resort Silver Star, a fairy-tale town inspired by the typical Victorian architecture of the 19th-century British Columbia mining town, with bright shops creating a unique atmosphere it is a real winter wonderland.

Silver Star is not just a winter ski resort. In other seasons, you can enjoy mountain bike trails, hiking, or tease your taste buds at the Okanagan Summer Wine Festival.

Predator Ridge's golf course is known as one of the best golf resorts in North America. There is a 36-hole championship course. There are also properties built here that have become a community of more than 700 property owners.

In addition to golf, Predator Ridge is a must-visit place for sports and nature. There are more than 25KM mountain climbing and cycling trails; yoga and fitness center. Not only that, it has witnessed the weddings of countless newcomers and has become a popular wedding venue.

Photo Credit: Golf Vernon Passport

Photo Credit: Predator Ridge Resort

Photo Credit: Sparkling Hill Resort

Photo Credit: Okanagan Wine Country Tours

Photo Credit: Sparkling Hill Resort

Sparkling Hill Resort is made of countless Swarovski precious crystals. The original owner is Swarovski. This is a fully equipped resort and health spa. You can enjoy the beauty and first-class service, enjoy the tranquility and relaxation. Open concept suites with lake and mountain views along with penthouse suites. There are also delicious wines, champagne, cider and tasty meals.

• 7 unique themed steam and sauna rooms

• 4 nature-themed showers

• Outdoor infinity pool

• KurSpa indoor saltwater swimming pool

• Indoor thermal pool

• Kneipp Spa

• Keizer fitness room

• Quiet lounge

• Tea room

Take a small train on the orchard tour to view and experience the taste of summer. Children play free games at CrazyCow Kids Corral, visit farm animals or participate in activities. Children will have a lot of fun here. While letting the children play, parents and grandparents can also enjoy snacks or cold drinks from the cafe.

At the bee farm next to the orchard, learn the whole process of producing honey and taste dozens of different flavors of honey! There is also mead tasting for the adults.

Photo Credit: KelownaNow

On March 14, 2019, BC officially launched the new BC PNP $100,000 Canadian dollars investment entrepreneur pilot immigration project. Vernon, a city with a 6-point high score in the Thompson-Okanagan area, is attracting a large number of friends and foreign entrepreneurs who wish to immigrate.

No overseas buyer tax, no vacancy tax, no speculation tax!
The Lake Real Estate team needs to bring buyers from various cities and countries to Vernon to see the house and business every week.

2018-2019

Detached house

• The average selling price of detached houses in Vernon and North Okanagan (OMREB-North Okanagan MLS®) increased by 4.09% compared to 2018, and the average house price increased from $ 502,615 to $523,152 in 2019.
• In 2019, 966 detached houses were sold, an increase of 3.76% from 931 in 2018.

Townhouse

• The average selling price of townhouses increased by 3.70% compared to 2018, from $338,216 to $350,730 in 2019
• 345 townhouses were sold in 2019, an increase of 6.81% from 323 units sold in 2018

Farmland

• The average sales price in 2019 decreased by 15.16% from 2018, from $843,442 to $715,594 in 2019
• 156 agricultural lands were sold in 2019, down 6.59% from 167 agricultural lands in the previous year

2019-2020 March

Detached house

• In February 2020, the average price of houses in Vernon and North Okanagan (OMREB – North Okanagan MLS®) fell by 6.70% compared to the same month last year, from $546,022 to $509,463.
• 67 houses were sold in March 2020, an increase from the 65 units sold in March last year.

Townhouse

• The average price of townhouses fell by 0.52% overall, from $358,192 in March 2019 to $356,337 in March 2020
• 28 townhouses were sold in March 2020, a decrease from the 33 units sold this month in 2019

Farmland

• Compared with March 2019, the average price dropped by 5.01%, from $783,600 in March 2020 to $744,318.
• In March 2020, 11 agricultural lands were sold, an increase of 22.22% compared to March 2019.

In the past 10 years, the price of Vernon houses has been very stable, and the future growth potential is huge.

Friends who wish to invest in Vernon Real Estate are welcome to contact the Letnick Estates Group as we have Chinese Speaking Agents In Vernon along with English.