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It's no surprise that housing prices in the Okanagan continue to climb, making it difficult for first-time home buyers to get into the market.
But the reality check is the options are few and far between when it comes to single family homes.
According to the Okanagan Mainline Real Estate Board (OMREB), in April of this year, 222 units sold in the North Okanagan, which resulted in $83,663,747 in sales for that month.
Meanwhile, in April of 2016, 272 units sold, resulting in $118,207,493.
The Central Okanagan, sales for April 2017 resulted in $312,775,833 with 617 units sold.
And in April 2016 in the Central Okanagan, 801 units were sold, resulting in $390,882,509 of sales.
The average median sale price for the Central Okanagan for April 2017 is $506,930 and the average median sale price for the North Okanagan for April 2017 is $376,864.
According to the president of OMREB, Tanis Read, single family homes continue to increase in price and there are fewer and fewer available.
"The median price is up year over year by about four and a half per cent," said Read.
Not only that, but Read is seeing a significant difference in what people can afford between this year and last year.
So while the median price is up by 4.5%, buyers are unable to keep pace with the increases.
"With single family homes, the sales are down significantly, but the inventory is down even more," she said.
Read's also noticed an increase in Rutland prices in the past year.
"We're seeing Rutland move into the five to six hundred thousand dollar range. There's only five homes for sale in Rutland between four and five hundred thousand. Last year, this time there was 31."
But it's a different story with condos - almost the opposite according to Read.
"Strata inventory is up a little bit over this time April of last year and sales are up. That's not affordable - if you're looking at Strata four to five hundred thousand."
"The trend of the single family homes continuing to decline in inventory, that's tough. That's really tough. It really tells me - and I see it - people are having to buy into stuff that's a lot less suitable than what they wanted."
While they're quickly becoming extinct, without further adieu, here are a few homes and condos for sale across the Okanagan between $400,000 to $500,000.
Enderby
$415,000 - 3 bed 1 bath, 1,364 sqft, residential, 2.51 acres.
$449, 500 - 3 bed, 2 bath, 1,990 Sq.ft, single family, .25 acres.
$479,000- 3 beds, 3 bath, 3,025 Sq.ft, single family, .35 acres.
$499,000 - 3 bed, 2 bath, 1,628 Sq.ft., residential, 17.95 acres.
Armstrong
$499,500 - 4 bed 3 bath, 2,177 Sq.ft., single family, .15 acres.
$499,000 - 5 beds 3 baths, 2,013 Sq.ft, single family, .15 acres.
$449,000 - 3 bed 3 bath 1,590 Sq.ft, apartment, .1 acre.
$414,900 - 4 bed 3 bath 1,742 Sq.ft, residential, .17 acres.
Vernon
$409,000 - 4 bed 3 bath, 2558 Sq.ft, house, .39 ac/under 1 acre.
$409,900 - 2 bed 3 bath, 1510 Sq.ft, .07 aclunder 1 acre.
$439,900 - 5 bed 3 bath, 2,839 Sq.ft, single family, .272 acres.
$459,000 - 2 bed 2 bath, 1,150 Sq.ft, residential.
$499,900 - 4 bed 4 bath, 2,840 sqft, residential, .16 acres
Lake Country
$474,900 - 3 bed 3 bath, 1,432 Sq.ft, residential.
$465,000 - 3 bed 2 bath, 1041 Sq.ft, residential.
$424,900 - 2 bed 2 bath, 1,253 Sq.ft, residential.
Kelowna
$409,990 - 1 bed 2 bath, 1,003 Sq.ft, condo.
$414,900 - 2 bed 2 bath, 1400 Sq.ft, townhouse.
$425,000 - 2 bed 2 bath, 1342 Sq.ft, townhouse.
$449,000 - 2 bed 1 bath, 925 Sq.ft, single family.
$495,000 - 2 bed 1 bath, 1028 Sq.ft, single family.
Peachland
$429,900 - 2 bed 1 bath, 1,385 Sq.ft, .49 acres.
$479,000 - 2 bed 2 bath, 1,218 Sq.ft, single family.
$499,900 - 2 bed 2 bath, 1200 Sq.ft, single family.
Penticton
$409,900 - 3 bed 3 bath,1,500 Sq.ft, duplex .
$439,900 - 2 bed 2 bath, 9583 Sq.ft., single family.
$459,900 - 2 bed 1 bath, 920 Sq.ft., single family.
$499,900 - 4 bed 3 bath, 2762 Sq.ft, single family.
If you don't mind the commute, Enderby is going to give you more bang for your buck.
If you're set on Kelowna, count on condo living or finding a spot in West Kelowna.
Lake Country has little available for homes, but certainly has land. There are also a couple of condos under construction which should help with the Okanagan housing issue.
And if you are looking to buy, now is not the time to 'panic buy' or 'test the waters', according to Read.
"You go in and you have to plan your purchase and the sale of your home," said Read. "They have to all tie in together and you have to get your realtor to make sure that the right clauses are put into place. We've had a buyer wait an extra 30 days to complete because the clause was the seller had to find a home," she said.
She added that it's important to read through the clause and make sure you have your lawyer and financing ready to go.
"You have to have your ducks in a row before you go in."
What about you? How far are you willing to commute in order to make owning a home a reality?
Tell us your thoughts in the comments below!
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