Living in the Fast Lane

Living in the Fast Lane

May 7, 2021 | Finance, Local, Real Estate

The Okanagan market continues to flourish with inventory at an all-time low and buying interest continuing to rise, specifically from larger urban centres. Now with the weather getting nicer, we’re also seeing a shift in focus from residential properties to recreational properties, while even blurring the line between the two. In a city like Kelowna, you could argue that nearly any property is a vacation property! No wonder we’re the fastest growing city in Canada..

For the time being we can expect this red hot buyer’s market to continue until inventory starts to replenish. With plenty of new developments going up across the city over the near future it’s tough to say when this might be, but one can assume to see the volume of inventory increase with so many new apartments being built – like the new ‘Water Street by the Park’ development consisting of three towers at 24, 26 and 42 storeys.

If you’re considering relocating to Kelowna or are looking to sell, let’s get in touch and start making a plan. Before you know it we might see some double-digit price increases this spring, so let’s make the most of it!

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...

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