New Year, New Groove

New Year, New Groove

Jan 17, 2021 | Finance, Local, Real Estate

Congratulations everyone – we’ve made it past the finish line of 2020!

Last year presented us with a lot of unpredictable challenges: from a quarantine that forced us all indoors and pushed housing sales below the 5 year average, to a surge above and beyond that average from July onward, it’s safe to say that none of us expected there to be such a silver lining to an otherwise difficult time.

Now that we’ve made it out the other end, a lot of us have refocused our priorities and time for the better, like adapting our lifestyles to be more out-door focused and prioritizing time with our loved ones. To say the least, the amount of attention the Okanagan’s received because of this has been overwhelming! Despite low inventory, housing prices and sales have both skyrocketed and show no signs of slowing down with overall sales rising 70% year over year. Some are even calling the BC real estate market ‘pandemic-proof’

All these signs point in the right direction for Kelowna’s real estate market, with the expectation that market activity will continue to excel in these new conditions. With property values going up, new construction on the rise, plenty of outdoor activity options and lots of family amenities, the Okanagan stands strong as Canada’s ‘place to be’ heading into this new year.

There truly has never been a better time to consider your options, whether it’s relocating to Kelowna or upgrading/downgrading your home. Let’s get ahead of this thing and start planning how to make the most of your future in our beautiful valley!

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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