What A Year!
What A Year!
With 2021 sliding into the rearview and 2022 just around the corner, there’s been a lot of surprises to think back on!
During what could have been one of the most difficult years for our housing economy, the Okanagan saw the complete opposite take place. If anything, the social shift during the last year has created a massive boom in housing in the Okanagan! Average housing prices have also gone up significantly thanks to the renewed interest in our area coming from larger urban centres like Vancouver, Calgary, Edmonton, Toronto and beyond. The uptick in new construction is another indicator of this with plenty of new apartments, townhomes and single family homes going up and plenty more to come next year.
Moving into 2022, we can expect some slight changes to occur in the marketplace, like an introduction of new legislation to create transparency in the bidding process. This new policy’s goal is to stabilize the rising prices in our market and make housing more accessible to British Columbians.
Looking to buy or sell in 2022? Let’s start talking about your options and come up with a strategy together. It sounds like next year’s going to be another hot one for BC real estate, so let’s team up to make the most of it!
Additional Reading
Sold Before Sunset
If you’ve been keeping an eye on the Kelowna real estate market, you’ve probably noticed some shifts over the past few months. As of March 2025, the market is seeing more inventory, steady price growth, increased sales activity, and lending rates have been reduced...
Spring Housing is Blooming
March is finally here, which means the sun is about to shine and the market is about to thrive! Historically, the Kelowna and Okanagan spring housing markets are where we start to see the first surges of activity for the year. When we consider that only a couple of...
Reduced Rates and Rental Registry
Another wave of changes are making their way to the Kelowna housing market. In late January, we saw two significant events take place - BC’s short-term rental registry rollout, and the Bank of Canada’s overnight interest rates getting reduced down to 3%. Kelowna’s...
