Rise & Shine
Rise & Shine
Can you feel that warm spring sun finally coming out?! With a bit of luck, winter should finally be behind us; which means summer is just around the corner.
This year has already been off to a great start, with our first month reporting a year-over-year sales increase of 23% in BC! Heading into spring, market reports continue to show that sales were up from January to February and that there were fewer active listings available in February compared to last year. Combined, these factors indicate that the spring market is about to heat up heading into summer, which could lead to an increase in Vancouverites arriving to the valley.
And while the future remains unclear, so far the COVID-19 virus has not had any adverse effects on the BC real estate market.
The Okanagan market has never been more appealing. So if you’re thinking about buying or selling, let’s talk today about the best options for you, your property, and your goals.
Additional Reading
Winter Buyer’s Market Ahead
As of this month, Kelowna remains one of Canada’s most profitable and prosperous real estate markets, trailing only behind the Greater Vancouver area. But, with the Bank of Canada reducing its overnight mortgage rate to 3.75% on October 23rd and new construction...
Mortgage Rate Debate
Over the last ten years, Canadian mortgage rate fluctuations have had significant impacts on the Kelowna real estate market. This year we’ve already seen the Bank of Canada reduce mortgage rates twice, bringing the current overnight rate down to 4.5% - and it’s got a...
Buyer’s Market Boom
As the Kelowna real estate market approaches the last few weeks of the summer, things are continuing to trend in favour of buyers. Just over a month ago, the Bank of Canada reduced mortgage rates for the second time this year, bringing it down to 4.5% - a welcome...
