Cool Market Breeze

Cool Market Breeze
For the first time since before the pandemic, average housing prices in Kelowna are down 2 months in a row. The benchmark of a single-family home in the Central Okanagan dropped once again from May to June, showing us that the market may finally be cooling as we move through the summer.
In fact, the entire Canadian housing market seems to be following a similar trend with MLS average home prices dropping more than 13% since the record benchmark was set in February. That being said, these numbers are all relative since they’re being compared to record-setting market conditions over the last two years.
Market valuation continues to remain high, especially in the Okanagan. With BC boasting the highest number of active construction projects it’s had in the last decade, our beautiful province will undoubtedly continue to thrive. Further to this, the Central Okanagan Economic Development Commission just released that the increase in average youth population just rose to above three times the national average, and the rise in young adults is now five times that of the national average. With such positive changes taking place in our community it’s no wonder Kelowna remains the fastest growing city in Canada.
Looking for more information on Kelowna’s ever-growing and ever-changing real estate market? Let’s get in touch! Call or text the number on my website, or drop me a line on the contact page 🙂
Additional Reading
Coming Together
The last two weeks have inarguably been some of the most challenging our community has seen in 20 years since the Okanagan Mountain Park fires. It goes without saying that the McDougall Creek Wildfire took everyone by surprise and has created really trying times in...
Continued Success
Over the last couple of months there’s been a lot of questions asked about market stability - in British Columbia and the Okanagan alike - with residential sales appearing to dwindle as the Kelowna summer continues to heat up. Then again, when your market’s been as...
The Road Ahead
The Okanagan summer is officially here as the sun takes its stand and we say goodbye to a more-than-average rainy June. Now, what can we expect from the Kelowna real estate market as we head into summer? Earlier this month, the Bank of Canada raised its benchmark...



