Kelowna’s Rising Tide
Kelowna’s Rising Tide
As the New Year starts to get rolling it’s an exciting time for the Kelowna real estate market. With housing prices at the end of 2021 sitting about 30% higher than 2020, this year’s looking to be fantastic for growth within our community and housing economy.
While there might be some concerns or debate around the sustainability of our city’s growth, it’s reassuring to see that Kelowna’s been recognized as the 4th most resilient economies in the province – our 6th year in a row placing in the top 10! “Strong population growth, high housing stats and one of the province’s healthiest unemployment rates were major contributors to its success in this year’s ranking.” Our real estate market also helped with this placement, noting that Kelowna, West Kelowna, Vernon and Penticton all ranked in the top 10 for residential real estate performance.
In 2021 Kelowna also beat the 2016 record for all-time residential real estate sales with a total of over 7000! Six Okanagan properties have even made it onto the 500 top-priced real estate in the province – four in Kelowna and two in Lake country.
The valley’s red hot real estate market doesn’t plan on slowing down soon, so let’s team up to make the most of your current investment or to find you the perfect property in our unbelievably booming community.
Additional Reading
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
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...
Incoming Inventory
As we slowly make our way into the New Year, the usual speculation about future market conditions continues. Like we talked about last month, there are plenty of market influencers to consider in early 2024 that will set the tone for the rest of the year, like the...
