See where your Neighbourhood Stacks up Unveiling the Hottest Neighbourhoods and Market Trends As we reach the midpoint of 2023, it's an opportune time to explore the real estate market in Kelowna. By examining the percentage changes in sold properties and average sale prices, we can uncover the hottest neighbourhoods that have experienced significant growth. Join us as we look into the top five communities and see below where your neighbourhood or your desired neighbourhood stacks up and delve into the emerging trends shaping Kelowna's real estate landscape. Part 1: Top 3 Neighbourhoods in Percentage of Sold Properties Compared to Last Year: How many properties are selling in comparison to last year.
Crawford Estates (CRFD): Crawford Estates secures the lead spot with sales at 116% of what they were last year. This prestigious neighbourhood boasts large properties, picturesque surroundings, and a reputation for its high-end homes, making it a magnet for discerning buyers.
Dilworth Mountain (DM): Dilworth Mountain takes the second spot with sales at 98%, with the slight drop the activity had dropped off slightly but relatively the same even with the increase in rates compared to the previous year. This sought-after neighbourhood continues to attract buyers with its stunning views, convenient location, and desirable amenities.
McKinley Landing (MCKY): McKinley Landing comes in at 93% of the total sales compared to last year. This lakeside community offers a serene lifestyle and a strong sense of community, making it a top choice among buyers looking for tranquility and natural beauty.
Now looking at it from the aspect that counts the most………. the wallet. Keep in mind I am using the average sale prices for the area, so there could be a large sale in one of the years that is changes the results but using it as a reference point.
McKinley Landing: McKinley Landing takes the top spot, showcasing an astounding surge in average sale prices. With a staggering increase of [percentage] compared to the previous year, this lakeside neighbourhood offers a picturesque setting and an array of desirable properties. Buyers are drawn to McKinley Landing's serene ambiance and proximity to natural beauty, making it an ideal place to call home.
Kettle Valley: Kettle Valley secures the second position on our list, with an impressive [percentage] increase in average sale prices. Known for its family-friendly atmosphere, breathtaking views, and close-knit community, this neighbourhood has become a highly coveted area for those seeking a harmonious blend of natural surroundings and modern conveniences.
Kelowna North: Kelowna North claims the third spot among the neighbourhoods with the highest average sale price increases. With its prime location and vibrant city atmosphere, this area has experienced a significant [percentage] rise in average sale prices. Kelowna North appeals to those who desire the urban lifestyle and easy access to amenities, including trendy restaurants, shopping centers, and cultural attractions.
The real estate market has experienced mixed results over the past year, with some communities witnessing increased activity and rising prices, while others have encountered slight declines.
As we reflect on the past 12 months, Kelowna's real estate market has exhibited both positive and negative trends. McKinley Landing, Lake Country North West, Lower Mission, Springfield/Spall, and Kettle Valley have emerged as the hottest neighbourhoods. However, it's important to note that real estate markets can fluctuate, and individual properties may exhibit different performance within these neighbourhoods. Hope you have a great week! Reach out if you have any questions! -Mark and Maddie