Kelowna Real Estate Market News

The British Columbia Real Estate Association (BCREA) reports that a total of 9,663 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July 2021, a decrease of 7.2 per cent over July 2020. The average MLS® residential price in BC was $891,687, a 17.1 per cent increase from $761,772 recorded in July 2020. Total sales dollar volume was $8.6 billion, an 8.6 per cent increase from last year.



“Provincial market activity slowed in July with both sales and listings declining on a seasonally adjusted basis,” said BCREA Chief Economist Brendon Ogmundson. “While sales remain robust, listings activity continues to be a concern as inventories trend near record lows.”


Total active residential listings were down 32.2 per cent year-over-year in July and continued to fall on a monthly seasonally adjusted basis. 


Year-to-date, BC residential sales dollar volume was up 124.7 per cent to $73.4 billion, compared with the same period in 2020....

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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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