We are fairly used to seeing a shift in Okanagan’s Real Estate market in the Fall. However, this is not the typical shift we are used to seeing. There are many properties being listed but we have seen a decrease in closed deals, about 35% less than last September. Many factors contribute to this shift. Including the increase of mortgage rates and rules, more inventory being available, and of course the listing price spike that has not come down as much as many potential home buyers would like to see.
Seeing a Shift in The Okanagan’s Real Estate Market
Properties are staying on the market a bit longer than last September with an increase of about 65%. The inventory level has increased a substantial amount (112%) compared to September of 2021, leaving potential home buyers more options. This is good to see as it creates a more balance buyer/seller market and not necessarily favoring one side or the other. The price ratio has also dropped,. Meaning properties are not all going for full list price and/or over list price, which again is nice to see for potential home buyers looking to get into the market for the first time.
Inventory at Big White Ski Resort has also increased when compared to last year, an increase of about 48%, but with less sales overall in September 2022 vs. September 2021. The market at the resort has remained strong throughout the off season and is already picking up as we get closer to the opening of the Winter 2022/23 season. The average sale price in September 2022 was just over $500,000 ($516,750) while September 2021 saw an average sale price of $479,450.
The prices at the resort are competitive, strong, and overall a great starting point when looking to invest in a ski property. Currently there are 68 active listings at Big White, some starting below $175,000 and some all the way up to luxury prices around 1.5 to 2 million dollars.
If you are interested in further discussing the real estate market, or how your property can fit in todays market, I would be happy to chat further – contact me here or give me a call at 778-231-0308.
The Annual Big White Community Clean Up takes place on June 11th, prior to opening day, to ensure the resort is in tip top shapes after all of the snow has melted. There is also a complimentary BBQ & t shirt for those who participate. Disposable gloves and garbage bags will be provided after registration which takes place at 9am in the Village. For 
The more people that arrive and visit the resort and see how amazing it is, more people are interested in purchasing a slice of Big White Ski Resort for themselves. We have seen 56 sales so far in 2022, fairly on par from last year and almost doubling the sales from 2020. With over 35 million dollars worth of property being sold so far, the resort is on track for another high transactional year.
As mentioned, November 25th is opening day for the 2021/22 season. Michael J. Ballingall, senior vice-president of Big White, said “last winter was one of their best ever for season passes”, and this year seems to be proving the same outcome with strong season pass sales already. Early bird season passes are still available until October 17th (you can 
However, with an increase of sales, usually comes a decrease of inventory. Comparing this October to October 2020 we have 49% less inventory at the resort. So what does that mean? Sellers are getting top dollar for their properties and buyers are jumping in now before the prices increase even further. Year to date, over 99 million dollars in sales has occurred at Big White Ski Resort, a 30 million dollar leap from year to date 2020.
Low inventory was a huge factor in the stresses of buyers looking for a home to purchase. We saw the lowest inventory available ever and that created a frenzy for buyers looking. And with that, came an incredible sellers market. Many sellers took advantage of the rising home prices and quick possessions. The average time a Big White property spent on the market this year is 60 days. A 45% decrease from the same time last year.
You can leave with more than just memories as the shops are open for retail shopping and the restaurants will be open to fill your stomach. Check out all the summer information 
There were 22 deals completed in April of this year, with over $13 million in sales. When comparing that to the 1 deal in last April, I would say this year, properties at Big White are sought after. Additionally, last years average days to sell last at 101 days while year to date, this years days to sell is 58.
New builds are exciting at Big White and Monashee Ridge offers an incredible option for those wanting a luxury chalet. With ski-in/ski-out access, opulent features and finishings, and a completion date set for 2022, these incredible homes are very impressive. For further information about this development, 
People are flocking to the resort to purchase vacation rentals for themselves and their families as well as purchasing investment homes to provide revenue. There are many options for whatever you are looking for in your Big White Ski Resort property. Whether it’s a lot for building your dream chalet, a commercial investment up to $10 million, a studio or anything in between.
Plans include doubling the amount of chair lifts, almost tripling the skiing terrain, and expanding mountain biking trails. Additionally the resort plans to add golfing, zip-lining, more equestrian adventures, and cat skiing. Winter camping and health/wellness facilities are proposed. Of course, with more terrain and activities that means additional parking, accommodations and amenities. The current bed units at the resort is approx. 10,533, and if the proposed 2020 Master Plan stays on track, the resort will see 20,600.
