With money being cheap and the real estate market going bonkers, who knows what will happen this fall/winter.
In normal market conditions, people are not buying up all the toilet paper and the real estate market tend to cool down come the winter. This year has been different in so many respects, will this be different?
Despite the current inventory across the Central Okanagan being 5% below the five-year average for October, there were 48% more sales in September compared
With Kelowna sitting at nearly double the unemployment rate as a year ago (8.0% vs 4.1% in 2019). The main economical indicator would typically call for suppression in purchases, especially large purchases such as homes and vehicles.
However, people looking to get away from bigger city centers and rock bottom interest rates pouring some more gasoline on the fire. The housing market would tell a different tale. Looking at the real estate market in Kelowna, over the last few y
Okanagan Real Estate Market
September Statistics 810 total Residential sales in September. Up 83% from the same time last year of 441. 2,921 total listings down 15% from the same time last year of 3,454 September Days to Sell was 77 989 New Listings in August an increase in new listings of 18% Single Family Residential Homes Single-Family Sales 356 New Listings 372 Current Inventory Sell/Inv. Ratio 43.05% Days to Sell 66 Average Price $842,384 Median Price$740,000 Townhome A