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$385,000
Neighbourhood: Kelowna South
1
Beds
1
Baths
568
Sq.Ft.
2017
Year Built
2
Days on Site
10314983
MLS
$974,800
Neighbourhood: Kelowna South
2
Beds
3
Baths
1,479
Sq.Ft.
2006
Year Built
2
Days on Site
10307546
MLS
$469,900
Neighbourhood: Kelowna South
2
Beds
1
Baths
674
Sq.Ft.
2017
Year Built
2
Days on Site
10315008
MLS
$444,900
Neighbourhood: Rutland North
2
Beds
2
Baths
1,327
Sq.Ft.
2006
Year Built
2
Days on Site
10314970
MLS
$799,000
Neighbourhood: McKinley Landing
2
Beds
2
Baths
1,095
Sq.Ft.
2023
Year Built
2
Days on Site
10315017
MLS
$719,900
Neighbourhood: Lower Mission
2
Beds
2
Baths
1,051
Sq.Ft.
2017
Year Built
2
Days on Site
10314746
MLS
$528,000
Neighbourhood: Kelowna North
2
Beds
2
Baths
848
Sq.Ft.
2008
Year Built
2
Days on Site
10311566
MLS
$599,000
Neighbourhood: Kelowna North
2
Beds
2
Baths
877
Sq.Ft.
2003
Year Built
2
Days on Site
10303376
MLS
$542,900
Neighbourhood: Kelowna North
1
Beds
1
Baths
533
Sq.Ft.
2022
Year Built
2
Days on Site
10314889
MLS
$598,000
Neighbourhood: University District
3
Beds
3
Baths
931
Sq.Ft.
2019
Year Built
4
Days on Site
10313449
MLS
$299,900
Neighbourhood: Kelowna South
2
Beds
2
Baths
1,109
Sq.Ft.
1989
Year Built
5
Days on Site
10313826
MLS
$225,000
Neighbourhood: Rutland North
1
Baths
306
Sq.Ft.
2019
Year Built
5
Days on Site
10312870
MLS

Kelowna Condominums For Sale

The numbers are pretty easy to figure out. There are 380 units on the market (freehold/non-fractional interest) and there were 2528 sales last year in 2016. That works out to a 1.5 month supply of inventory for sale which is a very active market. The reasons should be obvious but we have a lot of owners who buy condos here but only visit a few times a year and they sit empty most of the time. We also have a lot of people in their prime earning years who want to have their toe in the market for the purposes of retirement down the road and a condo purchase with a stable tenant makes sense for them. With a ridiculously tight rental market we’re experiencing, units are rented out immediately as soon as a listing hits the internet. Finding a rental unit these days in Kelowna almost requires knowing someone who knows someone.

 Prices nowadays range from about $165,000 for a one-bedroom unit on Hollywood Road in Rutland up to over 2 million for a unit in the Centuria downtown or luxury units on the lakefront. And hundreds in between. Kelowna Condos cater to the just-starting-out crowd as well as those downsizing after the kids move out. Some units are pet friendly and some cater to senior citizens. A condo buyer has so many options today there probably has never been a better time to jump into the market.

Traditionally strata properties were marketed to the first time buyer crowd who couldn’t afford to get into the market and the last time buyer crowd downsizing who didn’t want the responsibilities of a detached house. This has certainly changed over the years especially in Kelowna with many out of towners buying a condo as a second residence using it as a rental or place stay when they visit. Regardless of what age you are, if you’re considering buying a condo it’s really important to know what you’re getting into.

Kelowna Condo Buying Tips

Age, pet, and rental restrictions are the first thing you need to know about. If you have a pet, or if you think you might want a pet, it’s important to know what’s allowed and what isn’t. Same for renting. Same for parking. Same for a lot of other things. I have a client who moved to Meadowbrook apartments on Enterprise after retiring here from Whitehorse a few years ago. He was a card player looking for a quiet lifestyle and wanted to join a good bridge club. This is fairly typical and every realtor has come across this type of buyer….just substitute bridge player for the quilter, bowler, square dancer, etc. This particular buyer also wanted a private deck on the top floor where he could smoke cigarettes in peace and quiet. Again, not uncommon, and let’s not judge anyone here. Imagine his horror though two years later when his strata wanted to pass a bylaw prohibiting smoking everywhere. Luckily for him, the resolution failed because he would have moved out.

Most strata board people I’ve come across are run by reasonable people who know what they’re doing and are willing to volunteer their time freely answering my questions and giving forthcoming information on their little micro-communities. They understand how to read financial statements and are aware of the issues in their building. I’ll even go further and say that most people who live in strata-titled properties are generally happy homeowners who like condo living.

If you are thinking of buying into a condo you really do need to take the time to read all the minutes of the strata board and past annual general meetings to familiarize yourself to the culture. Everyone hears about the horror stories about a crazy person in a building causing trouble for other owners but these people are few and far between. Reading strata minutes and bylaws might take a while but I promise you will be glad you did. If reading dry documents aren’t your cup of tea any Realtor or real estate lawyer will read and explain things to you and you will be able to make an informed decision.

For a complete list of condos and townhomes in Kelowna

Call Andrew Smith directly at 250-979-8066. Over 22 years of experience helping people achieve their dream of homeownership!

Call  Condo Expert

Andrew Smith 250-979-8066