In the Kelowna Real Estate Market this could be the best time ever for a buyer to buy a condo. There are currently 817 Kelowna Condos and 313 Townhomes on the market for sale.
There have been 196 sales year to date with an average sale price of $226,000. With 50 sales per month there is a 16 month supply of condos for sale in Kelowna. It is a buyers’ market with a lot of inventory to choose from. For the same period last year, there were 235 sales with an average sale price of $226,000(no change). 2011 had 199 sales at $250,000. There appears to be downward pressure on prices.
There are 313 townhomes for sale in Kelowna. There were 106 sales recorded during the first 4 months so there is approximately a 1 year supply on the market. The average sale price so far this year is $310,000 which is down from $331,000 last year. The same period in 2011 saw an average sale price of $323,000.
The first part of the year includes a lot of Big White Condominiums which impacts the statistics more than any other part of the year. Regardless , it’s a buyers market and will be for some time.
If you are thinking of buying a Condo or Townhome in Kelowna please give me a call 1-877-330-5884 or email firstname.lastname@example.org and I will send you the BEST 5 DEALS in your price range
Best Selling Author of “House Virgins” How To Buy A House The Right Way The First Time