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September 23, 2017 – 12:00 p.m.
OPINION
If you are looking to get into the Kelowna real estate market and have been keeping an eye on the low inventory in recent years, it is time to visit the market again.
The latest statistics from the Okanagan Mainline Real Estate Board show the inventory is at a 22-month high. In other words, there is more property on the market in our area than there has been in the past two years.
Don’t let the recent rate hikes fool you – now is a good time to buy Kelowna property. On the other hand, sellers also have reason to be optimistic, even though we are heading towards a more balanced market.
Although the latest statistics also show that the average price of a single family home has cooled to around $ 676,000 – versus the smoking hot summer days when the average price hit more than $ 700,000 – $ 676,000 remains 14.38 percent above that Previous year average annual price of $ 591,334.
The market is waiting for nothing. So if you are thinking of buying or selling, I recommend speaking to a real estate professional and looking at current market conditions – you may find these better suited to your needs.
If you read this column what do you think? Are you encouraged by these latest developments? Let me know in the comments. I am always happy to receive feedback from readers.
If you have any questions about the Kelowna market or real estate in general, please feel free to contact me directly. I will be glad to answer any questions you might have. I can be reached at 250-764-4344 or Mark@KelownaProperties.com.
– Mark Walker is a real estate agent and the agent / owner of Kelownas Walker Real Estate. His company operates KelownaProperties.com – Kelowna’s most comprehensive property search tool. Mark Walker’s column appears here every two weeks.
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News from © iNFOnews, 2017
