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

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