For the first time in city history, the average retail price of a single family home in Kelowna has surpassed $ 700,000.
Recently released statistics from the Okanagan Mainline Real Estate Board in May show that the average sales price of the 327 single-family homes that changed hands during the month was $ 703,809.
“It seems unreal doesn’t it?” asks Bert Chapman of Premier Canadian Properties. “This market is so strong that every sale seems to be higher than the last. But I think we need to see statistics with an average price of over $ 700,000 for three months to declare this a trend. “
It wasn’t until last year that a big deal was made with the average retail price of a single family home in town, which was $ 600,000. The price of waterfront homes is not included in the average because they are so expensive and would skew the numbers.
Most importantly, the average selling price of a lakeside home in Kelowna is $ 2.3 million, up 23 percent from the average of $ 1.9 million a year ago.
The prices have risen steadily in all home categories.
As the adjective indicates, an average price snaps an average home to a buyer. In general, it will be a new three or four bedroom, two or three bathroom, open concept home in a nice neighborhood.
While the average selling price of single family homes is the benchmark that attracts attention when records are broken, condominium and townhouse prices are also rising. The average home currently changes hands for $ 348,300, up nine percent over the year. And the average townhouse is $ 488,800, up 18 percent from the previous year’s average of $ 412,800.
Green vanity
All of these beauty products are vegan, toxin-free, cruel, fair trade, environmentally friendly, fragrance-free, para-ben-free, GMO-free and gluten-free.
“The Green Vanity Boutique is a holistic beauty lounge where all of the makeup, cleansers and conditioners we sell are completely clean and pure,” said Clean Beauty Owner and Expert Nikki Hunter.
“But we also recognize that beauty comes from within, which is why we also talk about nutrition, digestion and exercise. The answer isn’t always a cream. “
Because of this, the store at 1492 St. Paul Street in downtown Kelowna also sells kombucha (fermented tea), which promotes healthy gut and skin.
Such a unique approach to beauty deserves a party that Hunter will throw on Friday for the first anniversary of the business.
“A year in business is a big deal for a small independent with a different approach,” said Hunter. “It’s a reason to celebrate.”
The Friday Open House features makeup sales and demonstrations, a specially brewed kombucha, and eats from The Nourished Chef’s caterer Scott Nystrom.
Green Vanity currently carries 18 brands in its elegantly minimalist space.
They cover the hair care of Tabitha James Kraan from Great Britain. Crystal-enriched bath salts, scrubs, and body serums from Crystal Hills Organics of Kelowna; Pure Anada cosmetics from Manitoba; Elate Clean Cosmetics from Victoria; Sweet Leilani Vegan Cosmetics from Langley; and Shoosha Baby, a manufacturer of shampoos in Ohio and
Lotions that are not only good for infants but also for adults who suffer from psoriasis, eczema, or sensitivities.
Indicators
The population is rising in a balloon, more people are working, business licenses and household incomes are rising, as are real estate prices and construction costs, rents and airport traffic. It’s a scene of growth and prosperity in Kelowna.
This week, the Central Okanagan Economic Development Commission began publishing nine economic indicators quarterly using data compiled by various third-party agencies and governments.
Not only does the data paint a rosy picture of the community, it also helps entrepreneurs and companies that are already here or are considering moving here to make business decisions.
With 194,882 residents in 2016, an 8.4 percent increase from 2011, the Central Okanagan is the fastest growing region in BC
The median annual household income in Kelowna was $ 80,000 in 2014, up 2.1 percent from 2013 and above the $ 75,000 in Toronto and $ 76,000 in Vancouver.
The city employed 95,400 for the first three months of this year, up from 89,300 at the same time last year.
All other statistics also indicate that with the start of residential construction, growth is 27 percent higher, 15 percent more business licenses, 8.7 percent more airport passengers, rents up 6 percent, median property prices up 15 percent and the The value of building permits rises six percent.
The full report is available online on the Resources page at InvestKelowna.com.
Do anew
After nearly 40 years, the Penticton School of Hairdressing has changed direction.
The downtown school at 379 Martin Street closed and reopened as Martin Street Hair Co., Penticton’s first and only chair and stand rental salon.
Hairdressers and beauticians who provide manicures and pedicures can rent space either full-time or part-time to provide services to their clients.
Alluding to its school roots, the salon will continue to support apprentices and offer affordable rents to new stylists to start their own business.
The phone number is the same at 250-493-2747 and the regular opening times are Monday to Saturday and evenings by appointment.
Book signing
Authors Tim Young and Hugh Philip will be signing copies of their new book Moving to Kelowna: A No-Nonsense Guide today from 1pm to 3pm at the Chapters in Orchard Park Mall. $ 2 from the sale of every $ 15 book goes to the Central Okanagan Food Bank.
Steve MacNaull is the business reporter and columnist for The Okanagan Weekend. Reach him at steve.macnaull@ok.bc.ca.
