As of late 2024, the Kelowna and Okanagan market is firmly in a buyer’s market phase. Over the past two years, high interest rates have slowed the market as borrowing costs have increased, cooling buyer enthusiasm and leading to a buildup in available inventory. The interest rate hikes from 2022 through 2023 raised the cost…
Q3 Market Update (2021) – Central Okanagan – Kelowna Q3 Market Update (Produced by Louis Han in English and Korean) with CHRIS CHUNG and CHAD LEE SFR (Single Family Homes) | TH (Townhouses) | CONDO (Apartments) -Single Family Homes in the third quarter had a benchmark price of $923,500, which…
This video digs deeper into market statistics for the Central Okanagan in British Columbia. Looking at Apartments, Single Family Homes and Town-House style inventory versus number of sales within a month. We will look from 2018 to April 2020 and give our opinion of where we think the Real Estate Market will be headed. …
There were a total of 7,224 residential real estate transactions for the year of 2019 in the Central Okanagan, with a total turnover of $3.9 billion. Total sales decreased by 2.3% year-on-year in 2018, and total sales decreased by 1.5%. Nevertheless, the market still has a growth momentum in the second half of the year.…
Western Investor, one of the most authoritative real estate magazines, chooses Kelowna as the best real estate investment city in Western Canada in 2020! Kelowna International Airport has developed rapidly and has become one of the top 10 busiest airports in Canada; ambitious real estate construction plans, very low vacancy rates and huge economic development…
Kelowna Neighbourhoods: Price Maps 2018-2019 Are you wondering how the Kelowna market and housing prices have adjusted since last year? From 2016’s Sellers’ market, we’ve shifted to a somewhat more balanced market. However, some would argue that it’s the Buyers that have the power now. Have prices changed that much? I’ve put together a price…
Let Me Be Clear No one can 100% predict market trends and the following information is the personal opinion of JP Letnick and shouldn’t be considered as investment or financial advice. The information provided is based on current market data. Let’s Look At The Data History tends to repeat itself; so before looking towards the…
Welcome to Kelowna located in the Okanagan Valley within British Columbia. Pristine fresh water lakes, award winning food and wines along with temperate climates and affordable housing prices makes Kelowna one of the top locations in the world. This is no longer a secret and the world has started paying attention to Kelowna real estate.…
Average Prices Welcome to June 2017 where house prices in the Okanagan have continued to hit record highs along with the temperatures. When we compare the average price of homes in the Okanagan from June 2017 to June 2016 we can see the following: Residential homes increased roughly 16.99% Mobile homes increased roughly 24.56% Condos…
According to statistics from OMREB Spring is the busiest time in the property market, with average house prices in the Central Okanagan rising 17.06% in 2017, averaging $703,809 a record high. Mobile Home prices have grown by 34.94%, because there are not enough houses on the market; especially homes for less than $200,000. With so…