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