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 was a quieter month.

 

Summary of numbers -:

 

Total sales down 23.4% from November 2017 up 2.4% on 2016.

Single Family Home sales down 13.1% from November 2017 up 17.8% on 2016.

Strata sales down 24.2% from November 2017 and down 12.8% on 2016.

How much have Kelowna Real Estate prices risen this year compared to last year?

The Median Price numbers are -:

Single Family Homes up 12.9% from $555,000 to $626,500.

Condos up 16.2% from $262,500 to $305,000.

Town Homes up 13.8% from $384,900 to $437,900.

 

Changes To Limited Dual Agency As Of March 15th, 2018

IMPORTANT CHANGES JANUARY 1st 2018 - How this will affect My Buyers and Sellers