At the risk of sounding like a broken record, last month's real estate market really wasn't for the faint-hearted buyer!
Yet again, we saw many properties going into multiple offers and we saw properties at times sell $100,000 and $200,000 over asking, which in the past has been unheard of here.
For example, a 5 bedroom home in Rutland South listed for $1099,000 selling for $1,240,000 – $141,000 over the asking price, and in Kettle Valley a 3 bedroom Townhouse listed for $699,000 sold for $911,000 - $212,000 over the asking price!
Looking at the previous month's Buyer Survey results, it seemed that the number of first-time buyers looking was down, whereas revenue and move-up buyers were up.
The additional restrictions caused by the rise in the Omicron virus, and the difficulty with roads between the Lower Mainland and Kelowna, may have affected some Buyers being able to visit, but interestingly there was a modest increase in Alberta buyers.
There were also fewer buyers in the...