If you have been thinking of selling in the next year, now might be the best time that you have. We don't know what the future has in store. 1. Low new inventory coming on the market, April is projected to have 540 new listings which is 46% of last April's amount and 56% of the new listings in March. There is less competition out there and it's a good time to get in front of prospective buyers. 2. Quarantine has people moving online. It's a good time to get more views on your home. 3. Spring is beautiful. Homes show great in spring with the blooming flowers and budding trees. Typically homes will sell faster and for money, if they show well. 4. Interest Rates are low. Nowhere to go but up.

It is too early to know the full impact on the economy as the figures are pulled on an annual basis. However, looking at the chart above regarding the duration of the past recessions the prior recessions, have lasted anywhere from 8 to 25 months. This one is a bit different than any of the prior recessions as we all take part in physical distancing measures. What is different this go-around is that homeowners are reluctant to list their homes, and unmotivated buyers are more reluctant to view/ the homes out on the market. With the reduction in supply, we are noticing that the motivated buyers are jumping on the new listings that are coming out. This past week there have been multiple, mult

Kelowna and West Kelowna Real Estate Market Update, Realtor Mark Coons looks at the last week in the market and where we are seeing changes.

With people working from home and kids off from school, An associate of mine Joel Olson Mortgage Broker with Dominion Lending Services has done some serious work to help parents during this time catch a moment of sanity while keeping their children productive. THANK YOU JOEL!!!!! Check out the link to his blog here. http://joelolson.ca/category/general/ Starfall: www.starfall.com This is a reading app that is mostly for Pre-School and Kindergarten Kids. The free option gives you access to various reading games and songs. There is a paid option as well which has some other options. A lot of focus on learning sounds and letters. Endless Alphabet: https://apps.apple.com/us/app/endless-alphabet/

WEEKLY THOUGHTS! The market is showing signs of softening this week, which was to be expected. Overall prior weeks it was chugging away quite decently. This week there was 67 solds vs 102 last week. The Inventory is lower than usual at this time of year with new homes coming on the market averaging about half of what typically in this spring rush we should see. That being said I had a new listing come out last week and we had an accepted offer first day on the market, if it’s the right product and there may be a buyer for it. I think its too early to see if we will see price drops. For prices to decrease there typically will have to be a imbalance of supply and demand. This week we are seein

Homes are still being listed and selling throughout the first bit of this virus. We expect inventory to be tight creating a competitive environment for buyers that have to move. Recently in Ontario Real Estate services were listed as an essential business. For Real Estate in BC we have been changing up our procedures to help ensure the safety of everyone involved. Please see risk mitigation we have done. We are setup to do just everything from showing the home to completing necessary documents digitally. Utilizing technology helps limit a great deal of risk during this time of Social Distancing from Face Timing for the showing or doing a Zoom conference with a home inspector. Wearing glo