Kelowna Real Estate Market News

 

 

First and foremost Happy New Year!

 

2017 was another very busy year for the Kelowna Real Estate Market and while the MLS® sales numbers were not as high as the previous year, there were a large number of Developers sales - E.G. downtown High Rises and New Homes being built, which weren't included in these figures.

 

All year it seems that small parcels of Land were being snapped up, and new developments are now popping up all over the area. I don't recall ever having seen so much building going on around the City.

 

For many years we have been talking about Kelowna one day changing, well it feels like its time has come!

Central Okanagan Real Estate Sales December 2017

 


Date


Total

Single Family Homes


Strata


Lots


Manuf

  Dec 17 343 185 122  23 13
  Nov 17 448 213 161 55 19
  Oct 17 544 254 194  71 25
  Sept 17 490 223 204  41 22
  Dec 16 335  157  140  18 20

 

As to be expected, December...

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The beginning of November seemed to start very slowly, and it felt like we were really entering into the usual winter lull. I suspect this was not helped by the heavy snowfall we experienced in early November before all the leaves had fallen. Thank goodness that melted quickly and I was pleased to see 10 degrees on my Thermometer one-day last week! In the last week, inquiries have picked up again and Buyers are still writing offers.

Kelowna Real Estate Sales Numbers November 2017

Overall sales are down 10.3% on last month but interestingly up 14% on this time last year.Single Family Home sales are down 16.1% on last month, but up 17% on 2016, and Strata sales are down 17% and down 8.5% on this time last year. Interestingly Lot sales are still much higher than last year.


What is the Current Kelowna Real Estate Market Outlook?


In case you missed it, the BC Real Estate Association issued its Q4 Real Estate Forecast for BC this week. Unfortunately, they only...

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