2021 Home Sale Volume The media, neighbours, family members have all been talking about the increase in prices in the real estate market. It seems that overnight that the prices took a jump, low supply and high demand making a lot of headlines and seems that we have been talking about that a lot in 2021. A couple of weeks ago I took a look at the average increase in price per sub-area. Supply and demand (again there I go), each neighbourhood saw a different increase however

Fewer Faces Larger Spaces With the whole situation with the virus, consumer buying habits have all changed this past year more than ever in the past. As people move to fewer faces in bigger spaces it is also translating to buying habits in the real estate market. This week we’re looking at the number of acreage properties that have sold compared to the last 10 years. Every buyer and seller has their own reasons for purchasing or selling their own property and everyone's sit

How does Kelowna's real estate market fair within Canada? Demand in the Okanagan seems to be at all-time high with the working class shifting to working from home, therefore, being able to work anywhere in the world. People across the country are searching for alternative places to live; whether it’s for the lifestyle, weather, or just the fact that BC has had a better go with Covid restrictions than our counterparts in the East. In the spirit of Canada Day, this week I am

June 2021 Statistics With summer now here and the Economy in BC moves into Phase 3, homes sales continue to be hot, however down from the spring rush that we saw in March and April. Overall in June, we are seeing a fewer amount of new listings come on the market but sales continue to be hot and overall inventory is declining. The low supply continues on keeping an upward pressure on prices right now. 764 total sales in June. (Down from 800 Sales from May) 1451 total active l

If you are looking at selling, you have to have a place to go. Everyone's circumstances are different and despite high prices, it has to make sense to make the move. I have spent a lot of time looking and talking about the single-family residential home market however this week I am specifically into the condo market and how it’s faired. People are cashing out of their houses one way you can win is to downsize to either smaller property. Generally speaking if the overall mark

How much Value does a Suite Add? With home prices increasing and low inventory, a lot of homeowners do not have a place to move too which is often holding them back from selling. One area that we are seeing a drastic increase in sales is homes with suites or tenant-occupied homes. Looking at the number of sales in the last 2 years for homes with a suite the number of sales from when Covid started to now has increased rapidly in the last 18 months. Currently, there have been

Real Estate Market July 2021Statistics Summer is now in full swing and the smoke unfortunately has settled in earlier than normal. The July real estate market showed a slowdown in sales but also active listings are down around ~45% of the normal amount of listings that we see at this time. Homes are still selling fast (and multiple offers) if priced correctly, but some are sitting a bit longer due to the asking price stretching the market. 608 total sales in July. (Down from