The One Saving Grace For Kelowna’s Real Estate Market


April 2019 Strata's continue to outperform Single Family Home sales this spring, but the average price continues to hold steady. To date, we are seeing prices in line with a year ago. Single Family Homes - ouch! March 2019 was the slowest March in 10 years, and only marginally better than in 2009. The saving grace is that there is only 60% of the listing inventory compared to 2009, so competition isn't as fierce.  Forecasting out, April is looking to be back on track with 2012-2013 sales numbers as we previously were. We suspect this blip is due to the extra long winter and lingering snow. Townhomes had an excellent month, outperforming all other…

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Townhome Listings Skyrocket!


Kelowna Real Estate News March 2019 Coming out of the two slowest months of the year, February was still a cold and snowy month which likely had an effect on inventory and sales numbers, but the average price is holding steady. We look forward to seeing what the warmer weather in March and April bring for activity. Single Family Home sales continue to be lower than last year, which is to be expected.  The listings are 27% higher than last year, which sounds worse than it is.  We still have 20% less listings than the 10 year average, and almost half of the inventory there was in 2009. Townhomes saw an incredible jump in listing…

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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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