https://www.youtube.com/watch?v=Re3IA8eFskU Wolf and Colin Krieg from RE/MAX Kelowna discuss the new trend of micro condos in Kelowna and how first time buyers and young people are flocking to strata units instead of single family homes more now than ever before. Are homes going to go extinct?
Video Market Updates
Oil Prices and Kelowna Real Estate
https://www.youtube.com/watch?v=zGtjxJK2cKA Wolf and Colin Krieg discuss 2014 market and how it was substantially over the 20 year average most of the year, except for November. They decided that this could not be attributed to the recent oil prices. They spoke to realtors in Fort McMurray to compare to their market, which has slowed.
What’s driving Kelowna’s Surge in Real Estate?
https://www.youtube.com/watch?v=dQSCtThj32k What is driving the surge of sales in Kelowna's real estate? Wolf and Colin Krieg discuss single family, townhomes and apartments in Kelowna. They compared the percentage of properties that have sold in each style, as well as the most active price range. Colin identifies that 20% of the buyers are coming from Alberta, as well as a large percentage are first time buyers. Wolf compares the Million dollar plus range to Vancouver and Toronto on how crazy their markets are in comparison.
Are Kelowna Real Estate Prices Out of Control? [VIDEO]
https://www.youtube.com/watch?v=5T5SbTjp0GU Wolf Krieg and Colin Krieg discuss how Kelowna's house, apartment and townhome market is now in a balanced market vs the buyers market is has been in for the past 7 years. They also discuss how first time and out of town buyers are driving the market right now. CMHC believes there will be upwards pressure on prices, interest rates will hold steady and that the vacancy rate in Kelowna will continue to fall.