Cold Weather, Hot Market
Cold Weather, Hot Market
While 2019 may have been off to a slow start, we certainly ended it strong. With lower inventory and higher sales than December last year, the market is looking a lot warmer than the weather heading into this new decade. All this, and the fact that homes sold faster on average in the Central Okanagan than the rest of the region, is setting us up nicely for 2020.
Not only is the market nice and active, but this year we can look forward to a lot of new properties entering the market, and creating plenty of opportunity for first-time buyers. With new development proposals continuing to roll in, Kelowna remains one of the most prospective markets in Canada.
Looking for the right moment to make your move? Whether you’re buying or selling there are a number of different ways to make the best of the current market, and I love talking strategy. Let’s get in touch and figure it out together!
Additional Reading
Where To Go Next?
As we start getting ready to say goodbye to 2024 there’s plenty of curiosity about what the Kelowna real estate market is going to look like in 2025 - and with good reason! This year we saw so many changes take place that had significant impacts on our local market,...
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...