Weathering the Storm

Weathering the Storm

Nov 20, 2022 | Finance, Local, Real Estate

Kelowna continues to thrive as the Canadian housing market cools down. Despite “short term uncertainty” in Okanagan real estate, luxury housing, waterfront lots, residential land, and new developments are clear indicators of market prosperity heading into the holidays.

In a recent review of Canadian communities based on place, product, programming, people, prosperity and promotion, Kelowna was ranked the #2 small city in Canada, with Victoria taking the #1 spot. The report states that “A pursuit of the holy trinity of opportunity, lifestyle and (relative) post-pandemic affordability has Kelowna booming…” One of the other main takeaways from the report was the noticeable changes and improvements taking place in the downtown core with plenty of new restaurants and shopping options popping up.

With that being said, it’s no surprise that another 40-storey high-rise development has been proposed for the downtown core, right near the waterfront. Despite increasing interest rates impacting affordability and home sales slowing across the country as a result, Kelowna’s real estate market proves its resilience time and time again.

All signs point to Kelowna being a buyer’s market right now – inventory is high, pricing is stable, and opportunities for growth are constantly breaking ground. It’s the best time to buy that we’ve seen in recent years, so let’s work together to find you the best option to join this fabulous community!

Additional Reading

Incoming Inventory

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...

New Year, New Market

New Year, New Market

Happy New Year everyone! Am I the only one who feels like 2024 snuck up on us way too fast?! With the New Year underway, a lot of folks are starting to wonder what lies ahead in 2024 for the Okanagan housing market. Market speculation is always a popular topic around...

Winter Growth Spurt

Winter Growth Spurt

As we head into another winter, the expected rumors and reports of a market slowdown are once again the hot topic in Kelowna real estate. But, speaking from experience, this isn’t an unnatural turn of events. Sales activity in Okanagan housing naturally tapers off...

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