There is no doubt that the Kelowna real estate market is hot right now.
Nothing shows this more than a property in Rutland that was recently up for sale for $ 375,000.
Although the property was a decent size and a desirable location, the house had holes in the walls, water damage, and mold.
There is not much going on in Kelowna at the moment, as supply simply does not meet demand. “Src =” https://www.kelownanow.com/files/files/images/realtor.jpg “style =” Rand: 5px; ” />
One of those potential buyers is KelownaNow’s content director, Sam Hill, who has been trying to buy their first home for several months.
“It’s definitely frustrating that every time I send my real estate agent a property I want to look at, she says that there is already one or more offers that have been accepted and I can’t even see them.”
As for the solution, adding homes in an expanding area like Glenmore definitely helps, but the solution likely lies in densifying Kelowna’s downtown core.
“I think a higher density is definitely a good answer, and that’s where everyone wants to go now,” said Krieg. “The under 35-year-olds all want to get on their cruiser bikes, go downtown, have a beer and not have to worry about driving.”
Wherever the extra living space is coming from, Krieg says Kelowna simply needs more supply at this point because the demand is too great to handle.
“Kelowna is currently one of the fastest growing cities in Canada and it shows clearly.”
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