The Vernon real estate market is so hot, both buyers and sellers are being impacted.
According to Bill Hubbard with Century 21 Executives Realty, overall inventory is down 28 per cent, because many potential sellers are not willing to list for fear of not finding another home to buy.
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Sales are down 12.7 per cent from one year ago because of a lack of properties for sale.
Prices are up 9.3 per cent and properties are selling fast.
The situation is causing bidding wars in 50 per cent of sales.
There have been record applications for new construction, but those units are years away from being completed.
Hubbard is predicting the overheated market could last for months.
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