Kelowna Real Estate Market News

Kelowna Real Estate News February 2018

As to be expected, January 2018 was a quieter month for inquiries and showings in the Kelowna Real Estate Market.


Does this represent a 'shift' in our Real Estate Market? I don't believe so. We are still experiencing multiple offers and inventory is still lower.


In the last week, I have already started to experience an increase in inquiries. Investors are still looking, although my sense is they are becoming more nervous, wondering whether the market has peaked.

Central Okanagan Real Estate Sales January 2018

 


Date


Total

Single Family Homes


Strata


Lots


Manuf

  Jan 18 342 159 147  24 12
  Dec 17 341 185 120 23 13
  Nov 17 448 213 161  55 19
  Oct 17 544 254 194  71 25
  Jan 17 260  114  114  19 13

 

Summary of numbers -: 

Total sales virtually the same as last month, but up 31.5% on 2017.

Single Family Home sales down 14% from December 2017 up 13.9% on 2017.

Strata sales up 22.5% from December 2017 and up 28.9% on 2017.

 

We saw a modest dip in Single Family Home sales numbers last month. Despite this, there were still 18 sales over $1million, with the largest sale being a Lakeshore Home for $6.8 Million.

 

Update on Changes to Real Estate Consumer Protection coming March 15th, 2018

Last month I talked about some changes coming to Real Estate Consumer Protection in BC in March.
 
If you are looking to Buy or Sell Real Estate in British Columbia this year, I strongly urge you to keep informed.
 
Last week, I wrote an update on what we know so far. To read the report please click the attached link https://www.trishcenci.com/blog.html/important-changes-to-bc-real-estate-consumer-rules--5340608

If you have any specific questions, please do not hesitate to contact me either by phone or email.
 
Kind Regards
 
Trish Cenci
 
Tel 250 864 1707

 

 

 

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