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

Kelowna’s Still Thriving

Kelowna’s Still Thriving

    The weather’s catching on - Kelowna’s property market is scorching! With average home prices breaking over 900k, I can honestly say these are unprecedented market conditions.  But, these price increases are likely to be softened with further commitment...

Take it to the Top

Take it to the Top

    With another month gone by, so much has changed and things are moving faster than ever. Yet, the story remains the same: the Okanagan real estate market is still soaring with no signs of slowing down. Last year we saw average home prices go up steadily,...

Living in the Fast Lane

Living in the Fast Lane

    The Okanagan market continues to flourish with inventory at an all-time low and buying interest continuing to rise, specifically from larger urban centres. Now with the weather getting nicer, we’re also seeing a shift in focus from residential properties...

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