Why Are Condos Doing So Well?


Kelowna Real Estate News February 2019 January is typically one of the slowest months of the year, and this January was no different.  We are currently in a buyers market across all property types. Single Family Homes only saw 80 properties sell in January.  That is the 5th slowest January in 25 years for Kelowna. Although listings are 33% higher than this time last year, we are still well below the 10 year average, and almost half of what they were in 2009 (the slowest year in recent memory) Townhome sales are right in line with the 10 year average. Even though the inventory has climbed a tremendous 114% over last…

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The New Normal for Kelowna Real Estate


Kelowna Real Estate News December 2018 Sales continue to slow as we move into December and January (the slowest time of the year). Single Family Homes have teetered on the edge of a balanced and buyers market for the last 5 months now.  This appears to be the new "normal". It is causing downward pressure on prices over $800,000, and especially between $1-1.5M where only 4% of the 220 listings are selling per month. Still, sales numbers are in line with the 10 year average. Townhomes have also seen a steady incline of inventory over 2018. With 353 units for sale, this puts us in line with 2013/2014. The 42 sales…

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Townhome Listings Double!


     Nothing beats golden hour sunsets in the Okanagan. Kelowna Real Estate News Single Family Homes It's nothing new that sales have slowed and listings have been climbing since the spring, and the graphs below will confirm that.  What is interesting though, is that for the past 4 months, our sales to listings inventory ratio for single family homes hasteetered between a balanced and buyers market, and continues to sit there. Our sales numbers for October are back in line with the 10 year average after a brief dip below, and although listings are up almost 30% over this time last year, we are still 10% under the 10 year average.…

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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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