First and foremost Happy New Year everyone!
2019 certainly seemed to have its ups and downs in the Kelowna Real Estate Market. The Mortgage Stress Test had a more far-reaching impact on our real estate market then we had imagined. It was only towards the end of the year we really started to see signs of recovery. For me, this was especially so after the Federal Election.
I had several Buyers looking over the Christmas period, and with inventory being lower it has been more difficult to find the right property, and as a result, many are still looking.
Kelowna & Central Okanagan Real Estate Sales December 2019.
- Total Sales were down 28% last month.
- Single-Family Homes sales down 30%
- Strata sales down 24%.
Compared to last year sales numbers continue to show a positive improvement.
- Overall sales were up 40%
- Single-Family Home sales up 29%.
- Strata sales were up 55%.
Overall, it is quite normal to see a dip in sales in our area at this time of year.