Microclimate Market
Microclimate Market
After such a beautiful summer, it’s time to embrace the changing of seasons as we head into what will surely be another picturesque fall in the Okanagan.
Our community continues to thrive thanks to the growing appeal of the Okanagan lifestyle, drawing in buyers from all over the country (and then some). But after two years of red-hot market conditions, many are wondering what to expect as we head into the fall market.
While many other regions in the province and country may appear volatile, the Okanagan real estate market – much like our weather systems – appears to be in a microclimate state that’s far less affected by larger market trends.
The high level of appeal and interest in our property market makes it quite plain and simple that people will continue to want to live in our beautiful area no matter what! This keeps the market moving at a steady pace while others may be slowing down. Now that the secret’s out about how fantastic it is to live here, there seems to be no stopping it.
Even at a time of year when sales tend to slow down while people are out enjoying the summer, Kelowna’s home sales were still holding high and steady. Compared to the rest of the province, Kelowna’s market continues to thrive. As long as sellers continue to price their properties appropriately, we’ll surely stay the course through the rest of the year.
Curious about your options in our ever-changing market? Let’s connect and strategize to make the most of your investment and find a perfect fit in our fabulous community.
Additional Reading
Winter Buyer’s Market Ahead
As of this month, Kelowna remains one of Canada’s most profitable and prosperous real estate markets, trailing only behind the Greater Vancouver area. But, with the Bank of Canada reducing its overnight mortgage rate to 3.75% on October 23rd and new construction...
Mortgage Rate Debate
Over the last ten years, Canadian mortgage rate fluctuations have had significant impacts on the Kelowna real estate market. This year we’ve already seen the Bank of Canada reduce mortgage rates twice, bringing the current overnight rate down to 4.5% - and it’s got a...
Buyer’s Market Boom
As the Kelowna real estate market approaches the last few weeks of the summer, things are continuing to trend in favour of buyers. Just over a month ago, the Bank of Canada reduced mortgage rates for the second time this year, bringing it down to 4.5% - a welcome...