Kelowna Real Estate Update


Kelowna Real Estate News July 2020 Buyers are back in great numbers but listings haven't caught up yet and are still down 20% Single Family Homes Wow! How the wind has shifted overnight! I don't think anyone saw this coming, but in one month, sales have gone from 50% under the 10 year average (139 sales in May 2020) to 261 sales in June, (over the 10 year average).  Sales in June were even up 20%+ over June 2019. Multiple offers and properties selling over asking price are no longer a thing of the past. With 24% of the listings selling, we are on the verge of a…

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Kelowna Real Estate Market Update


Kelowna Real Estate News May 2020 As expected, May sales continued to be significantly impacted by COVID 19 in all segments of the market. Although all segments of the market are still technically in a buyers market, it stillfeels more like the market is "on hold".  With fewer homes for sale, the buyers that are actively searching are having a hard time finding what they're looking for right now. However, the market is slowly feeling more and more active.  I was in a 4-way multiple offer yesterday on a $900,000 property in Lake Country; not something you typically see in a slow market. Forecasts…

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Kelowna Real Estate Update


Kelowna Real Estate News May 2020 As expected, April sales were significantly impacted by COVID 19 in all segments of the market.The good news is that listings are down, and we saw 47% fewer properties being listing in April 2020 compared to 2019. At this point, we haven’t seen a big impact on prices, especially in the lower price points of each segment (type of property). Although all segments of the market are technically in a buyers market, it feels a little more like the market is "on hold".  With so few new listings coming online, the buyers that are actively searching are having a…

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Market Update in Kelowna Real Estate


Kelowna Real Estate News April 2020 The following information is to be taken with a large grain of salt as the recent COVID-19 impacts are not realized in these stats. More on that below.Single Family Homes sales appear to be healthy!  Sales numbers are up almost 1/3 over 2019, we're in a happy healthy balanced market, listings are down relative to last year and the average price is holding steady.  What could be wrong? Townhomes are also showing a healthy balanced market. Sales are pretty similar to this time last year, listings are down and the average price is slightly up. Great news! Apartment/Condo are still hanging on…

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