Full Speed Ahead

Full Speed Ahead

Dec 22, 2020 | Finance, Local, Real Estate

The surprises keep rolling in as we head towards the holidays! Normally in November and December we’d see things slow down in the real estate world, but with demand at an all-time high, low inventory and skyrocketing sales, things are as busy as ever. While the province saw an increase of 42% in average home sales, the Okanagan saw an incredible increase of 71%, exceeding all of our expectations for this year’s fall season. 

With a growing appeal for housing beyond the lower mainland and domestic vacation properties getting more use than before, the word is out about how great it is to live in BC. And this growth isn’t just local to us – all across the country we’re seeing housing markets boom! The Canadian Real Estate Association reported an over 30% growth in November sales compared to last year, making that the second consecutive record-breaking month. As our community continues to flourish, we can expect to see growing interest in both residential and commercial investment, as well as new construction, creating more opportunities for buyers and stabilizing pricing (like the exciting new development on Clement Ave!).

With the holidays upon us, let’s all make an effort to rally around our local small businesses and spread some cheer in our community. Wishing you all a Happy Holidays and fantastic New Year!

Additional Reading

More Housing is Coming

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

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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

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...

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