Prices Up, Sales Down?


Kelowna Real Estate News Average Prices Are Up and Sales are Down in the Okanagan The Okanagan’s summer was predictably hot once again, but the region’s housing market entered its seventh consecutive month of cooling sales. There were 584 sales in September across the Okanagan Mainline Real Estate Board (OMREB), down from 709 the previous month.While the average price of a home inched up 5% over August and 8% over last September, the average price only tells part of the story.  Prices of homes have not begun to climb again. We’re seeing a shift across the region with all signs pointing to a market continuing…

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Why is the Average Price in Kelowna down $95k?


Evening sunset over Kelowna last week by Elizabeth Holly Photography Kelowna Real Estate News August 2018 The cooling trend continues as you can see in our graphs below. Listings are up and sales are down. We see two reasons why our average price dropped $95K from the previous month.  One, in July our average price was unusually high, an extra $65K higher due to many sales in the higher price ranges. Reason two, is that historically, the average price in August is lower than July. In this case, it is down $30K from where July should have been. This doesn't mean that prices are falling $95,000 per month.  This is simply an average…

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August 2018: Kelowna is still breaking records?


  Is it too late to sell your home? Video Link   Kelowna Real Estate News July 2018 The Kelowna real estate market (from Peachland to Oyama) has slowed, and is now solid in a balanced market. The average price for a home in July 2002 was $205,000, in 2017 it was $675,000 and in July this year, it was $782,398. This is the highest ever! We're still breaking records! That being said, you can see below listings are up and sales are down. It will be very interesting to see what the fall will bring. The government is determined to…

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