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

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Budding Spring Market

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To Flip or Not to Flip

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...

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