Anchored in Success

Anchored in Success

Jan 31, 2023 | Local, Real Estate

While New Year celebrations slide into the rear-view, the year ahead begins to set its course. With plenty of speculation about whether or not the housing market would endure post-pandemic conditions, things continue to look up in Okanagan real estate.

As new market conditions emerge, like the recent ruling banning foreign homebuyers in Canada for the next two years, this speculation isn’t too surprising or unwarranted. That being said, property experts claim this will have minimal effects on the market. Between this and the new restrictions being placed on rental properties, it’s no wonder everyone is confused! But despite it all, Kelowna and the Okanagan’s real estate markets continue to stay strong.

Compared to last year, Kelowna’s average single family home valuations are up a whopping 14%! Don’t worry though – this doesn’t mean your property taxes are going up that much (in fact, “the average property tax increase for 2023 has already been figured out to be 3.8%”). So, while you might expect the rest of these market factors to work against us, things are looking just fine in Okanagan real estate as we head into 2023.

Wondering how to navigate these emerging changes? Let’s chat and figure it out together!

Additional Reading

Incoming Inventory

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New Year, New Market

New Year, New Market

Happy New Year everyone! Am I the only one who feels like 2024 snuck up on us way too fast?! With the New Year underway, a lot of folks are starting to wonder what lies ahead in 2024 for the Okanagan housing market. Market speculation is always a popular topic around...

Winter Growth Spurt

Winter Growth Spurt

As we head into another winter, the expected rumors and reports of a market slowdown are once again the hot topic in Kelowna real estate. But, speaking from experience, this isn’t an unnatural turn of events. Sales activity in Okanagan housing naturally tapers off...

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