April 2018: Signs of a shift in Kelowna Real Estate?


Kelowna Real Estate News April 2018 Are these the signs of a shift in our market?  Compared to 2017, March sales were down over 20%, and surprisingly, townhome sales were down a staggering 38%! Listings are up over 20% in all segments. As the old saying goes "supply and demand regulates the price", and this is no different. Although our average price reached $734,197 and is the highest it's ever been, it looks like our market is poised to slow down.  Will we end up staying in a balanced market, or will we land in a buyers market? Time will…

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March 2018: Kelowna Spring Market As Expected?


  Kelowna Real Estate News March 2018 The Kelowna real estate market (from Peachland to Oyama) experienced a definite slow down in sales for February with the only exception being apartments. We all heard about the increase in qualifications for mortgages, interest rate and tax policies. Property sales typically increase month over month from December/January building towards May. This year, that trend is not appearing. As we monitor the sales this March every day, we are not noticing much of an increase in activity yet and are hoping that the last third of the month will be stronger. At this point, the sales forecast isn't as good as we'd…

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Kelowna Real Estate Update


  December Real Estate News January 2018 2017 has come and gone, and we are left with another excellent year. Sales for Single Family Dwellings have seasonally slowed, but remains to be the best December in history. Listings are quite low at 602, well under the 10 year December average of 940.  The list-to-sell ratio, that golden litmus test that we always refer to is at 26%, just on the edge between a balance and seller's market.  The same goes for apartments at 26%, but townhomes have continued to outperform everything else, even with a 20% fall in sales (year…

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