Buyers & Sellers Market At SAME TIME?!


Kelowna Real Estate News May 2019 May is historically one of the strongest months of the year for sales, and we saw a better May than expected, which is great news! However, although overall the market looks balanced and healthy in the graphs further below, it is extremely segregated by price range, with each being their own market. Activity in Past 30 Days Red/Orange is a hot sellers market, green is balanced, blue is a cool buyers market Single Family Homes are seeing the majority of their activity under $700,000 as it is what people can afford.  The higher the price, the less activity there is. Over $1M has seen an increase in…

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Single Family Homes Sales Have Continued to Climb


Kelowna Real Estate News May 2019   Single Family Homes sales have continued to climb, as is expected for this time of year. We are still 25% under the 10 year average for sales, which isn't ideal. However, listings are 12% under the 10 year average, which helps sellers. 75% of the sales were under $800,000 in April, 15% between $800-$1M and only 10% of the sales were over $1M. Home prices in the lower prices ranges are holding well, but prices in the luxury market are starting to slip. Townhomes are currently outperforming all other segments with 18.5% of the inventory selling for the second month in a row. Sales numbers are…

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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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