Kelowna Real Estate Market News

When we look at the sales figures for the Kelowna Real Estate Market in January 2021 it will seem that the market is slowing. The reality, however, is that it is 'very hot' and it is the lack of inventory that is slowing the market.

I have heard many stories of multiple offers during the last month and buyers having nothing to view.

We are seeing quite a few properties come on the market now where the Seller will not look at offers for a couple of days after listing, as they were wanting to maximize the number of buyers bringing forth offers.

Kelowna & Central Okanagan Real Estate Sales January 2021.

January Residential Real Estate sales numbers were down again compared to December 2020, but continue to be up significantly compared to January 2020.

The current sales numbers are actually more to do with lack of inventory than Buyers looking to purchase.

Compared to the last month-:

- Total Sales were down 12.1% last month.

- Single-Family Homes sales down 12.5%.

- Strata sales down...

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August 2020 was another hot month for the Kelowna Real Estate Market!

Some Buyers experienced challenges gaining household insurance, due to the forest fires in Penticton, but happily, these have subsided now, and I have not heard of anyone having issues recently.

Demand for homes and townhomes was active throughout the month and after a slow start for Condos, we saw more activity towards the end of the month.

More parents and investors have been looking around the University area and they are looking to complete purchases, as late in the year as possible, ready for students hopefully starting school at UBCO, in January 2021.

Interestingly, I have also had a few more inquiries from Sellers looking to sell now, so I am anticipating seeing a few more listings coming on the market in the next little while, which will be unusual for this time of year.

Kelowna & Central Okanagan Real Estate Sales August 2020.

While sales numbers were not as high as July, they were still very impressive.

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