Kelowna Real Estate Market News

Kelowna Real Estate News January 2018

 

 

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

As you may have read in the media, Agents will no longer be able to undertake transactions as a Limited Dual Agent, from March 15th, 2018, and if they are working with a Buyer, their Agent will not be able to represent them, should the client decide they want to make an offer on one of their Agents listings.(There are some exemptions for remote communities).

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

As you know, for many years, I have been working with my Business Partner, Tanis Read as the Trish and Tanis Real Estate Group.

In order to best serve all of our clients, we have decided to set up two separate Real Estate Businesses, so that our clients can be fully taken care of at all times.

This is quite a radical change for us, but our goal has always been to take the very best care of our Clients and that is why we are making these changes as of January 1st, 2018.

It is important to note, for confidentiality purposes, that we will have separate email addresses, phone numbers and as you can see from my new Website, we will have separate Web sites.

My contact details will be -:

Telephone 250 864 1707

If you have any specific questions, please do not hesitate to contact me either by phone or email.

Kind Regards

Trish Cenci

 

 

 

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