Cool Summer Breeze

Cool Summer Breeze

Jul 18, 2021 | Finance, Local, Real Estate

In an unlikely coincidence, it seems like Kelowna’s housing market climate continues to rise and fall with the weather. Now that we’ve made it through the most intense heat wave in recent memory the market is showing signs of cooling – but that doesn’t mean it’s lost its momentum yet!

With inventory last month at half of what it was the year before, housing prices up nearly 30%, and sales taking an average of only 22 days (wow!) we’re still in a very competitive housing market. Our population has seen steady growth throughout the pandemic with no signs of slowing down – another contributing factor to our red-hot market climate. In fact, the Okanagan’s population has grown faster than anywhere else in the past 5 years, with Canadian residents accounting for the majority of this growth. As construction continues to boom in both residential and commercial sectors, Kelowna remains a top contender for one of the most desirable places to live in Canada.

Still unsure about how to approach the market right now? Let’s figure it out together! Head over to my contact page to get in touch by phone or email so we can make your transition into, out of, or within the Okanagan market as smooth as possible.

Stay hydrated, stay safe, and remember to sign up for my monthly newsletter for regular updates on our exciting community!

Additional Reading

Buyers Lead The Way

Buyers Lead The Way

    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...

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...

Summer Market Stability

Summer Market Stability

    For the first time in almost two years, Kelowna’s housing market is showing signs of cooling down and stabilizing. COVID brought a lot of attention to Kelowna with its high appeal to the shifting landscape of professionals working from home and...

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