Kelowna September Market 2018 VS 2019
Last month saw Realtors record 225 residential sales at an average sale price of $760,000. Numbers from the previous month were similar with 225 sales and an average sale price of $748,000. In other words, there wasn’t much movement up or down. Comparing September 2018 with last month is a similar story with 205 recorded sales at an average sale price of $751,000. Again, not much volatility to speak of.
Year to Date
Year to date we’re still playing catch up with 2018. At the end of the third quarter this year we recorded 1,806 sales compared to 1,918 for Q3 2018. Although we are likely to continue the trend of outperforming last year’s numbers on a monthly bases for the rest of the year it doesn’t look like we will make up the 112 unit sales by year-end. If we do, it will be close. If we don’t, we’ll go down swinging.
The federal election hasn’t affected market activity at all. Municipal and Provincial elections have more of an impact on housing-related issues but most people I’ve spoken to would like to see personal mortgage stress tests softened and 30-year CMHC amortizations possible to make it easier for high ratio buyers to get into the housing market. Let’s hope.
Thanks for reading and please share this with family or friends thinking of buying or selling