Cool Summer Breeze
Cool Summer Breeze
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
Right Between the Lines
A recent report noted that rent prices in Kelowna are on the decline, with BC showing the greatest rental price decrease in Canada so far. With increased rental supply and rising vacancy levels across the province helping ease pressure on the price of housing, it’s...
The Cost of Waiting
If you haven’t read my latest blog post yet, let’s bring you up to speed. Last month we talked about buyers and sellers both sitting on the fence, with buyers waiting for prices to soften and sellers waiting for stronger demand. But, here's the thing about fences -...
Both Sides of the Fence
March was a really positive start to the spring in the Kelowna housing market, with sales for townhomes, condos and single-family homes all showing increases compared to February. Coupled with this bump in sales activity, average and median prices for single-family...
