Welcome to Kelowna October Real Estate
There were 437 residential homes listed for sale in September which is a reasonably high number even when compared to the 456 listed for sale December 2015. Our industry loves consistency.
1021 Homes Available For Sale In Kelowna and Area
As of today, there are 1,021 residential homes on the market. There are only 114 single family residential homes (excludes duplexes, bare land etc.) priced under $500,000. There was a time when it seemed we would see 114 for sale signs on a short drive to the grocery store. 114 is a ridiculously low number of affordable single family residential homes for a community like ours that extends from Oyama to Peachland so if you’re a home owner living in a home like this and are thinking of moving sometime next year, you might want to re-think that and give your Realtor a quick call right now because you’ll have little competition.
164 Condos listed for sale
164 condo apartments listed for sale last month which is a healthy way to kick off the Fall market. There are a total of 338 condos for sale so they’re turning over at a healthy rate. In other words, well priced properties are continuing to sell in Kelowna. Average sale price for condos is $300,000 once the ski hill units are taken out of the mix. In other words, condos prices aren’t coming back down to 2015 (or 2014) levels anytime soon even with all the new construction going on all over the place.
The Kelowna market has been active is practically all price ranges and we do not see any signs of it slowing down for well priced homes and condominiums. When a home is priced right it is receiving multiple offers , often above the asking price. If the home is priced too high above market value it will receive showings but not an offer. The sweet price is the one that gets the active buyer in the door.
If you are wondering how much your home is worth please call me at 250-979-8066