Kelowna Real Estate Update – Broken Records!


Kelowna Real Estate News October 2020 RECORDS BROKEN! HOT HOT HOT! Wow, once again, an unbelievable month for Kelowna in September. Our spring market was delayed to the summer and has started to spill into the fall with no signs of letting up yet. Single Family Homes The previous record for sales in September was in 2016, with 276 sales. The 10 year average is 187 sales.  Last month saw a jaw dropping 356 sales! Measuring the market based on the percentage of listings that sell, September was tied for the 3rd best of any month in Kelowna's history.  We are seeing multiple offers,…

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Kelowna Real Estate Update


Kelowna Real Estate News September 2020 Well it's not too surprising, Kelowna's single family home market has continued to be very strong, with August being another record month in a sellers market (see '% of Listings That Sell' graph below).Single Family Homes Looking back to 1991, this was most sales for any August in Kelowna's history with 317 properties selling. That's 1.5x the 10 year average of 207 sales, unreal. Listings have not begun to climb yet either and are more than 25% under the 10 year average. Lastly, our average price climbed just $4,000 over July's record setting month, which tells us buyers are continuing to spend more…

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Kelowna’s Real Estate is Fired Up!


Kelowna Real Estate News August 2020 Wow, what a month for July! Kelowna broke several records last month. Sales for townhomes and single family homes are up tremendously, with listings staying in check.  The condo/apartment market is currently lagging behind.Single Family Homes This was the best July in the history of Kelowna for sales with 336 homes selling, that's over 100 more properties selling than the July 10-year average, and 50% more than last year! We also saw the highest average price ever at $812,000; $30,000 more than the previous record set in mid 2018. We are seeing multiple offers again and properties selling extremely quickly, but we…

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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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