News
April Real Estate Stats for Kelowna
I've seen it all this year in Kelowna's real estate market. Everything from multiple offers flying in over asking, to listings so quiet I had to double check they were still live! A mix of hot spots and cold caverns - an odd market to say the least.
April 17, 2025
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March Real Estate Stats for Kelowna
Kelowna's real estate market is in a funny place right now. Statistically, we're deep in a buyers market, but I'm seeing these little pops of activity in certain areas of the market where it feels like it's balanced or better! Homes that are priced right, in the right segment of the market, are still drawing lots of attention. I was in 2 sets of multiple offers in February, both of which went over asking. That is very unusual for a market like this when other properties aren't getting any action at all.
March 10, 2025
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January Real Estate Stats for Kelowna
Kelowna Real Estate News January 2025 Edition OVERVIEW Where is Kelowna's market headed for 2025? It's a question that everyone wants to know. Surprisingly, we had a strong October and December for sales when compared to our 10-year average. Listings, while still high, seem to be maintaining, and we havn't experienced a big flood of inventory which is positive news. Let's break down the stats
January 10, 2025
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December Real Estate Stats for Kelowna
Is the market about to take off this spring again with the interest rate changes? It's a question I've had many times recently. Let's see look at the data. First, great news that the Bank of Canada lowered its overnight rate by another 0.50% this week. While that doesn’t impact fixed rates, those with variable rates will be extremely happy with the move. However, interest rates aren't the only factor to determine a market. To know the future, we look to the past.
December 10, 2024
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November Real Estate Stats for Kelowna
After the worst September in a decade, October bounced back STRONG with sales up 60% over last year for single family homes, and 32% higher for townhomes. This wasn't just Kelowna, this happened across the country! Is this the start of the market turning around, or just a blip of positive sales?
November 10, 2024
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October Real Estate Stats for Kelowna
The market moved deeper into a buyers market in September making it the worst September in the last decade due to fewer sales and more properties to choose from. However, October has felt an uptick in sales so far, we’ll be curious to see how it shapes up.
October 10, 2024
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September Real Estate Stats for Kelowna
While Kelowna's market slowed in August, making it one of the slowest Augusts on record, many sellers are patiently waiting for the market to rebound rather than adjusting their prices. This has created some excellent buying opportunities, especially in specific segments and price ranges.
September 10, 2024
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August Real Estate Stats for Kelowna
July was similar to the previous quarter, maintaining it's course with no big gains or losses.
August 10, 2024
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July Real Estate Stats for Kelowna
June didn't stray from May's direction, and that wasn't positive. June's market was very slow, even for the townhome market that was showing the most promise and activity. It looked for a moment this spring like we might step up into a balanced market, but it has slowed tremendously and has pulled back to a buyers' market. The good news is that prices seem to be holding relatively steady.
July 10, 2024
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June Real Estate Stats for Kelowna
While May is typically one of the strongest months of the year, it waivered some this year, especially for single family homes. Listings are continuing to climb across the board, as seasonally expected. Sales however, have been a little stagnant.
June 10, 2024
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May Real Estate Stats for Kelowna
April saw a welcome increase in sales, shifting our market close to, and into a balanced market for the first time since August last year. Listings have continued to climb higher, although it's seasonally expected, they are quite a bit higher than the 10-year average. Prices are holding steady across the board.
May 10, 2024
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April Real Estate Stats for Kelowna
I think many had high hopes for March, myself included, that we might start to see sales picking up, but it wasn't as much as we'd all hoped. April and May are historically when markets shift and when the pace is set for the year. Of course, interest rates are another variable, with many calling for a subdued 0.75% decrease in 2024 (vs the 1.0-1.5% expected earlier this year).
April 5, 2024