Buyers Lead The Way

Buyers Lead The Way

Aug 21, 2022 | Finance, Local, Real Estate

While Mother Nature turns up the heat the housing market continues to cool, making plenty of room for new buyers to start timing their market entry.

Over the last two years we’ve seen exceptional growth in Canadian real estate – especially in the Okanaganwith so many leaving larger city centers in search of better access to the outdoors and a more relaxed lifestyle. But, after two years of consistent growth we’re now seeing the market cool off and stabilize, creating opportunities for those looking to make the most of this beautiful place we call home.

What does this mean exactly? Now, there are more mores for sale than there are. Unlike the recent precedent where sellers had multiple offers exceeding their asking price to consider, buyers are now able to finally start negotiating prices again. In this new climate, buyers can get negotiations started by offering slightly under the asking price – quite the opposite of the bidding war style of buying we’ve seen up until now.

And while some might be concerned about the market dipping too low, experts are confident that this is merely a slump. The Okanagan market continues to prove time and time again that it’s resilient to many of these downward trends – after all, we were the most flourishing real estate market throughout the pandemic.

If you’ve been on the fence and trying to time your entry to the Okanagan real estate market, I can say with confidence that the time is now! Let’s connect and start searching for your perfect opportunity – you’ll never look back once you settle into our beautiful community.

Additional Reading

Trending Okanagan

Trending Okanagan

The Okanagan is taking its turn in the spotlight for British Columbia real estate as Vancouver starts to lose its curb appeal. While it’s no secret that Kelowna and the Okanagan as a whole have been gathering momentum for the past ten years, Covid truly sparked an...

Budding Spring Market

Budding Spring Market

The sun is shining, patios are opening, and the Kelowna real estate market is blooming. Despite some unexpected variables this year - like the introduction of the ‘Flipping Tax’ and the short term rental restrictions that will soon go into effect - market activity is...

To Flip or Not to Flip

To Flip or Not to Flip

The BC real estate market is about to see another major change coming in January 2025. A newly proposed tax presented by the provincial government in their yearly budget - commonly referred to as ‘The Flipping Tax’ - aims to decentivize short term purchase investments...

250-470-0377