Enjoying the View
Enjoying the View
The last couple years have been both unpredictable and surprising for all of us, including the Okanagan real estate market. At a time when the world came to a halt, Canadians took this forced pause as an opportunity to re-evaluate their lifestyles and consider alternatives to living in big city centres. Now, it sounds like people are starting to slow down and enjoy the view as we head towards the holidays!
After an expected dip in market activity early last year, things quickly turned around in the Okanagan as we saw real estate begin to skyrocket in both intrigue and pricing. Fast-forward to today, and we’re now finally starting to see things cool down and stabilize into a state of pre-pandemic normalcy.
But that’s not to say the effects of our recent real estate boom aren’t still apparent. The median price of a single-family home in the Okanagan has now reached just over $1 million – a year-over-year increase of 22%! So, even though the market may be starting to cool down, it’s not without its benefits. The impact of the pandemic on Okanagan real estate is still very apparent heading into the winter, with projections claiming the median price of a single-family home will continue to rise another 16% between now and December.
If you’re looking to get into this exciting marketplace or want to assess your options and value, let’s team up and start talking strategy! I’m always happy to help people transition into, out of, or within our incredible community.
More Housing is Coming
It’s no secret that the province of British Columbia has been struggling in the affordable housing department for some time now. In its latest action plan, the provincial government is looking to shift the narrative and deliver more affordable housing to British...
Back In The Valley
While plenty of real estate markets have experienced highs and lows going into and coming out of the pandemic, the Okanagan continues to maintain a unique standing. Unlike many Canadian real estate markets, the Okanagan (and Kelowna in particular) was on a steady...
Welcoming the New
The Okanagan - Canada’s best-kept secret for decades - has been on the map for a few years now thanks to our incredible lifestyle, weather, and real estate opportunities to name a few. With Canadians shifting their priorities throughout the pandemic lockdowns, seeking...