Now, with $ 250, you won’t get that far into Kelowna real estate (photo courtesy of Old Kelowna)
Real Estate Deal of the Century: Ad shows lots near downtown Kelowna that are selling for almost free
A 1909 advertisement offered lots for $ 250
It was a unique real estate opportunity many Kelowna residents can only dream of today.
A 1909 advert in Kelowna’s Orchard City Record showed residential lots along Richter and Ethel Streets for just $ 250. Adjusted for inflation, the Bank of Canada estimates around $ 4,500 in 2019.
READ MORE: Kelowna Named Best City for Property Investment in Western Canada
To put that in perspective, newer homes along Ethel Street in Kelowna are now selling for more than $ 800,000.
It’s the same story along Richter Street, where newer condos sell for around $ 810,000.
Despite a nearly 400,000 percent increase in home prices over the past decade, there is still hope for people looking to buy a home in Kelowna.
A recent BC Assessment Report shows that house prices in Kelowna fell an average of two percent to $ 643,000 in 2020.
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