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Market Report for the week ending January 15 2022

Posted by Andrew Smith on Saturday, January 22, 2022 at 11:50 AM By Andrew Smith / January 22, 2022 Comment

Greetings from downtown Kelowna. The real estate market experienced a little bit of an uptick last week with 40 residential sales being recorded at an average sale price of $1.22 million. The latter number is higher than expected especially with fewer out of town purchasers but there aren’t enough unit sales to make any confident predictions about prices just yet. We can expect more activity now that the Coquihalla highway has reopened and outsiders will come back to visit us again. There were 54 new residential listings brought online last week bringing the total to 354 homes for sale. 16 apartments were listed for sale for a total of 203 active listings. All these numbers are low and are expected to increase with the days getting longer and snow melting. As always, thank you for reading.