There were 190 Kelowna home residential sales this past month at an average sale price of $527,000. Overall a pretty good month especially compared to February of last year when there were only 125 residential sales. Year to date our board has been able to put together 292 residential sales compared to 241 this time last year. So that’s good right? There were 9 homes that sold for over $1 million dollars this month including one over $3 million which pushed the average up. Nothing compared to February 2014 when there were 12 homes selling over $1 million and 5 over $3 million. What’s with all these wealthy people doing business in February? What’s the lesson we can learn here? Maybe not everyone subscribes to the tired old axiom of “we’re going to wait until spring before putting the place up for sale”. Perhaps they know what they’re doing.
Active Kelowna Condo Listings
Things are down just ever so slightly with Kelowna apartment condos. There were 70 sales this time last year compared to 66 this year. There really isn’t too much to take from this other than what we already know. I think I might take artistic license and call this a tie. It’s still way too early to predict any trends but although the overall numbers are up there’s still that “I-hope-Albertans-don’t-stop-buying-here” feeling lingering in the air which is getting old. We’re not a one mill town after all and things are looking a lot brighter than they were this time 12 months ago.
The Big Kelowna Condo News
Is that the SOPA Square deal was finalized for $29 million. This means we will likely see a sales centre in South Pandosy soon and cranes will operate again. Amen. This will surely improve what is already one of the nicest parts of Kelowna. The stalled construction site has been an eyesore and this is great news. There are just over 1,300 homes for sale right now including 43 foreclosures. In the popular $300,000 to $450,000 range we only have 270 homes up for sale so it would be nice to see more homes entering the market in this price point. If you are thinking of purchasing a Kelowna home this year call or text me for my Top 5 Picks
Andrew Smith – Royal LePage Kelowna
firstname.lastname@example.org (250) 979-8066