Smith in Alberta
On our way to Edmonton this week and next for Western Canadian Swimming Championships. Let us know if you would like to get together to discuss the Kelowna real estate market in greater detail. Her direct phone number is 250 979 8066.
The Kelowna real estate market is beginning to hum along in what has become this “new normal” economy of ours. There were 80 strata (condo) sales during December and January. The average sale price for condominiums for the past two months was $280,000. Winter in Kelowna, like most Canadian markets, is traditionally the slowest time of year. There are currently 135 condominiums for sale that allow rentals priced between $225,000 to $300,000.
There are several units for sale across from Okanagan College and near Kelowna General Hospital that are easy to find a good tenant. If you have had any thoughts about trading upwards or purchasing another property, now is an excellent time.
Overall, there are 1800 homes for sale in Kelowna and the current average sale price for January was $411,000. The average market time to sell a home is 92 days.
Finally, Canada Mortgage and Housing Corp. released their quarterly outlook on housing in Kelowna. This is our tax dollars at work so let us know if you would like a copy and Andrew Smith Kelowna Real Estate will email one to you.