Enjoying the View

Enjoying the View

Oct 29, 2021 | Local, Real Estate

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.

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...

250-470-0377