Maybe it’s the statsgeek in me but nothing more fun than analyzing MLS housing data for Kelowna Real Estate and looking closely at the active residential homes on the market. 2,009 people among us trying to sell their Kelowna homes right now the jaw dropping statistic that always stands out is the $840,000 average asking price. Holy Hannah that’s out of whack with the rest of Canada and makes little sense considering the average household income is about $55,000. Ya ya ya I know there’s a lot of outside money propping up prices and will be forever, and ya ya ya I know there are a lot of retirees with no mortgages and lots of savings who skew income stats down but jeez, $840,000! The average sale price so far this year, thru mid July, is $477,000 which seems about right and in line with what most banks and real estate companies predicted. There have been 1,400 homes sold this year through the first 6 ½ months
This time last year there were 1,260 Kelowna homes sold which means unit sales are up 11% year to year. Prices are down about 1% over last year but it’s still a tossup up whether prices will increase or decrease overall this year. We’re all but guaranteed to have a more productive year on the unit sales front.
If you are considering getting into the Kelowna Housing Market, Condos are a deal right now. Time to buy!
I listed four really good condominiums in the past 2 weeks.
2 bedrooms 2 bathrooms, 3 years old for $249,000. Lowest price condo in complex. Weekly rentals allowed, completely furnished.
2 beds/2 baths on De Montreuil Crt across from the college. $155,000
2 beds/2 baths on Inkar near Springfield and Gordon. Quiet on 3 levels for only $214,000
2 bedrooms 1 bath in the Verve. Outstanding value for only $164,900
If you have questions about buying a condo or townhouse I can help guide you through the process. Call Andrew 250-979-8066
I value your comments and suggestions. Please leave remarks.
Living in Kelowna,
Andrew Smith and Jo Ann McLellan
Smith McLellan Group
Royal LePage Kelowna
To view homes go to www.Okanaganbc.com
250-979-8066 or Toll Free 1-800-330-5883
Follow me on Twitter @smithap01