Winter Growth Spurt

Winter Growth Spurt

Dec 8, 2023 | Local, Real Estate

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 later in the year when looking at historical trends – so while some might be spreading the word about unfavorable market conditions, I can tell you with confidence that there’s nothing to fret over. In fact, these claims rarely take the whole picture into account. When we take a look at the active growth within our market as we head into the later months of the year, there’s still a lot to be excited about when it comes to housing development and real estate expansion in Kelowna. 

Looking at the bigger picture, there is still plenty of growth forecasted in Kelowna for the coming months and years. Take the UBC Okanagan Downtown campus expansion for example; a project that’s said to bring an expected 8,000 students to the downtown area, with projections of 1% average housing price increases for every kilometer closer properties are to the University.

Meanwhile plenty of other new properties are forecasted to grow a stone’s throw from downtown in Kelowna’s North End, as developers propose options for the old Tolko Mill site. If these get approved, we could see up to 3,500 new units developed across these 40 acres, including up to 350 low impact senior and/or student units, retail spaces, and up to three or four hectares of parks and greenspaces.

Looking a bit higher up, there’s also Big White Ski Resort to consider as part of our community’s growth spurt. What started in 1963 as a single row-tow resort has since boomed into a full-blown community with everything from studio apartments to luxury cabins and homes. According to Big White’s vice-president of real-estate and development “…it will take another 60 years to complete our master plan vision,” aiming to be a year-round outdoor playground. With no signs of slowing down year-over-year, this is yet another sign of Kelowna’s incredible growth.

If you’re still unsure about how to make the most of Kelowna’s ever-developing real estate market, let’s get in touch and talk about it. Together we can find the best fit for you to join our community, maximize your investment, and find that perfect home you’ve been looking for.

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