Kelowna Real Estate Market News

The British Columbia Real Estate Association (BCREA) reports that a total of 9,416 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in November 2020, an increase of 42.1 per cent from November 2019.


The average MLS® residential price in BC set a record of $816,074, a 9.3 per cent increase from $746,310 recorded the previous year. Total sales dollar volume in August was $7.68 billion, a 55.4 per cent increase over 2019. “Home sales were once again unseasonably strong in November with several markets setting records for the month,” said BCREA Chief Economist Brendon Ogmundson. “While demand continues to be strong, the supply of listings has reached near-record lows in several parts of the province, with prices rising sharply as a result.”


Active listings were down close to 14 per cent year-over-year in November, which contributed to a 34.8 per cent sales-to-active-listings ratio. Consequently, the provincial average price rose...

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