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...