Kelowna Market Update Week of May 21, 2024

Housing Update

The average sale price last week was 1,150,000 and the median sale price was $1,026,000. There were 44 residential sales which was identical to the previous week. The spring market was more active last year with the identical week in 2023 saw our market post 65 sales. We have catching up to do.

Of note, Wilden and Glenmore each generated 4 sales pushing up the average numbers. There were 35 apartment sales last week which is impressive and up from 25 the previous week. There are 750 apartments on the market which translates into a buyers market all day long but it’s encouraging to see increased sales volume.

There are 200 active condo listings downtown largely due to the changes in Airbnb laws. With just 4 sales this past week and 72 year to date there are a lot of vacant units downtown by the waterfront hoping for a timely sale. It will be interesting to see if this crowd of sellers ultimately decide to put long term renters in their units or sell at some sort of discount. Regardless, 4 sales during a busy week isn’t enough and something is going to break sooner or later.

Enjoy Live Music and Family Fun in Kelowna This May!

Kelowna is buzzing with activity in May, offering a variety of live music events and family-friendly activities for all ages.

Live Music: Kelowna's vibrant music scene comes alive in the spring, with numerous venues and outdoor spaces hosting live performances. Bernard Avenue and local parks feature talented musicians and bands, creating a festive atmosphere throughout the city. Take advantage of the free concerts at Waterfront Park, where you can enjoy the music while taking in the stunning views of Okanagan Lake. Local pubs and restaurants also showcase live music, providing the perfect backdrop for an evening out.

Family Activities: Kelowna is a treasure trove for families, providing a wealth of activities to keep everyone engaged. Embark on a day of discovery at the renowned Kangaroo Creek Farm, where children can interact with kangaroos, wallabies, and other friendly animals. The Okanagan Heritage Museum and the Kelowna Art Gallery are not just spots for fun but also for learning, with interactive exhibits and creative workshops that will leave your family enriched and inspired.

For outdoor enthusiasts, Kelowna offers a plethora of adventures. Uncover the beauty of the Myra Canyon Trestles, a scenic hiking and biking trail that rewards you with breathtaking views and historical insights. Family-friendly beaches like Gyro Beach and Rotary Beach Park beckon with their inviting shores, perfect for swimming, picnicking, and building sandcastles. And if that's not enough, the H2O Adventure + Fitness Centre boasts water slides, a wave pool, and other aquatic attractions that promise endless hours of fun and excitement.

Coffee With Andy,If you are in Kelowna this summer please call and join us for coffee.

This May, Kelowna is the perfect destination for enjoying live music and creating lasting memories with your family. Experience the vibrant culture and endless activities that make this city a true gem in the Okanagan Valley.

Andrew Smith
Royal Lepage Kelowna
Lifetime Award of Excellence
Toll Free 1-877-330-5884
Real estate photo
Kierra Smith,
Royal Lepage Kelowna
2x Olympian
6 Properties
$555,000
Neighbourhood: Lower Mission
2
Beds
2
Baths
1,164
Sq.Ft.
2003
Year Built
3
Days on Site
10317500
MLS
$499,000
Neighbourhood: Springfield/Spall
2
Beds
2
Baths
1,141
Sq.Ft.
1998
Year Built
45
Days on Site
10313691
MLS
$459,000
Neighbourhood: North Glenmore
2
Beds
2
Baths
896
Sq.Ft.
2006
Year Built
80
Days on Site
10309156
MLS
$360,000
Neighbourhood: Springfield/Spall
1
Beds
1
Baths
1,087
Sq.Ft.
1998
Year Built
82
Days on Site
10308874
MLS
$2,900,000
Neighbourhood: McKinley Landing
1.84
Acres
94
Days on Site
10307748
MLS
$1,050,000
Neighbourhood: Rutland South
5
Beds
3
Baths
2,690
Sq.Ft.
1974
Year Built
123
Days on Site
10304783
MLS

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