Coffee with Andy Market Update February 14, 2023

Welcome to my weekly Kelowna housing market update for the week ending February 12, 2023.

A very workman like week here in Kelowna last week with 33 residential sales recorded throughout our board region and another 20 apartment sales. The average prices were 1,120,000 and $425,000 respectively which is in line with where they’ve been since last summer.

If you’re a home seller in this market and you’re hoping for pricing to return to early 2021 pricing it looks like you’ll be waiting a long time. Same thing on the flip side for buyers hoping for an overreaction to interest rate increases hoping for price drops. It looks like we’ve reached some sort of middle ground on pricing without much fanfare. Well priced homes sell within a reasonable time frame while overpriced listings just seem to sit there for sale forever.

There were 165 new listings brought to market last week bringing the total to 881. It’s clearly a buyers’ market here in Kelowna with active listings and monthly sales lower than what we’d like to see but things are gradually moving in the right direction.

Things to do in Kelowna BC in February

Kelowna, British Columbia is a beautiful place to visit in any season, but February brings some unique opportunities to enjoy the area. Here are some ideas of things to do in Kelowna during the month of February.

Visit the Okanagan Heritage Museum

Located in the heart of Kelowna, the Museum offers an array of interactive exhibits and displays to explore, covering 24,000 years of regional history. Guests can gain insight into the Indigenous culture, experience what life was like for early settlers, or follow a timeline detailing how the area developed over time. The Museum also has collections dedicated to natural heritage and agricultural developments, giving guests a comprehensive look at how this unique region has come together since its earliest days. Knowledgeable staff are always on-site to provide assistance and answer any questions that may come up during your visit. Experience history firsthand - visit the Okanagan Heritage Museum today!

Walk or Hike Kelowna Parks and Trails.

Taking a walk or hike is an excellent way to explore the incredible natural surroundings of Kelowna. Bring water

• Mission Creek Greenway- 16.7 km Easy path route along the creek.
• Knox Mountain Park- Apex Trail 4.0 km offers amazing lake and city views
• Knox Mountain Park- Paul’s Tomb 4.8 km offers amazing lake view. Pleasant path great for the whole family
• Myra Canyon – 25.1 km walk or ride the trail built along the old railway line
• Canyon Rim – 2.5 kmBear Creek Park offers some steep climbs and great views of the lake
• Kelowna Waterfront – 5.6 kmEasy paved path along the lakefront from The Grande Hotel to the City park bridge

There are countless opportunities available for visitors interested in the outdoors. Guided tours and trail maps can provide insight into the ecological and geological features unique to the area, as well as tips for maximizing enjoyment. Various difficulty levels are available depending on your skill level and desired experience—long-distance backpacking or a leisurely stroll through the park are all on offer! No matter how you enjoy it, making time to take a walk or hike through Kelowna's many parks and trails is a refreshing and rewarding experience.

Go skiing or snowboarding at Big White Ski Resort

Big White Ski Resort is a must-visit destination for ski and snowboard enthusiasts. Located just north of Kelowna, Canada, the resort boasts over 118 runs spread across 2,765 acres of pristine terrain. From the beginner's Paradise Chairlift to the advanced bowls of the Siberia Express, each level of skier or snowboarder will find many areas to explore. With access to over 20 lifts and incredible views at every turn, Big White offers tremendous variety to outdoor enthusiasts looking for a positive and exciting experience on the slopes. Whether you're looking for an adventure-packed day on various terrain markets or an evening relaxing in one of its cozy lodges, Big White has something for everyone.

Sample local wines at one of Kelowna's many wineries

• Mission Hill
• Cedar Ceek
• 50th Parallel Estate
• Gray Monk
• Grizzli
• Intrigue Wines
• Kitsch Wines
• Mt Boucherie Winery
• Quails Gate Winery
• Spearhead Winery
• Summerhill Pyramid
• Tantalus Vineyards
• Sandhill

Kelowna is the perfect place for wine enthusiasts to visit, as it has over 40 wineries for tasting and exploring. With so much variety in one picturesque region, it's no wonder tourists flock from all over the province to sample some of the local wines. Whether you prefer a traditional dry varietal or a sweet dessert wine, Kelowna's award-winning vineyards will undoubtedly have something for everyone to enjoy. Whether touring several different wineries or visiting for just one particular event, sampling local wines in the Okanagan Valley is an unforgettable experience that will make any wine connoisseur feel like they've stumbled upon their paradise.

H2O Adventure + Fitness Centre

If you're looking for a comprehensive aquatics facility in Kelowna, the H2O Adventure + Fitness Centre is the place to go. The centre offers a variety of programs and amenities for everyone to enjoy. From swimming lessons and fitness classes to open swim and drop-in activities, there's something here to suit every age group and experience level. The centre also contains a leisure pool with a lazy river, waterslides and other fun aquatic features that will delight the whole family! Adventure seekers can test their skills on the rock climbing wall or explore the great outdoors by caravanning or taking an e-bike tour with Mobi ramps. Don't forget to stop in at the café for some delicious food before heading home refreshed and recharged after a day of fun at Kelowna's H2O Adventure + Fitness Centre.

Art Gallery of Greater Kelowna Features Local Artwork

If you're looking for a unique cultural experience in the heart of Kelowna, you should check out the Art Gallery of Greater Kelowna. With its mission to "engage and inspire through transformative encounters with contemporary art," the gallery features local artwork from around the Okanagan Valley. From sculpture, painting and photography to installation pieces and video work, you can expect an impressive selection of cutting-edge expression from up-and-coming Canadian artists. In addition to its eye-catching exhibitions, the gallery routinely hosts workshops, lectures and other inspiring events -- perfect for culture seekers looking for a more positive experience. Whether you're a local looking for fascinating new pieces or visiting from out of town, drop by the Art Gallery of Greater Kelowna!

No matter what your interests are, there is something to do in Kelowna. Visit the Okanagan Heritage Museum to understand the area's history better, and take a walk or hike through one of its many parks and trails for some outdoor fun. Big White Ski Resort offers skiing and snowboarding opportunities for adventure seekers of all skill levels. If you prefer something a little more relaxing, opt for sampling the local wines at one of Kelowna's wineries or head for a massage or other spa treatment. Finally, check out the Art Gallery of Greater Kelowna for some fantastic local artwork.

If you would like to meet for a coffee with Andy or Kierra, please give us a call or email. We love to chat! Andrew Smith Royal Lepage Kelowna Lifetime Award of Excellence 250-979-8066 Toll Free 1-877-330-5884 Kierra Smith, Royal Lepage Kelowna 2x Olympian 250-300-1114