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A. MacDonald

Dulcie was terrific to work with when we were looking for a new home in Kelowna. It was a crazy time in the home buying business but we found the perfect home and Dulcie helped us with every little detail so that we felt very confident throughout the process. I would recommend her to anyone who wants peace of mind as they go through the normally stressful process of buying a new home.

Residential real estate across the region from Revelstoke to Eastgate Manning Park and into the South Peace River region finished off the year with record-high sales, reports the Association of Interior REALTORS®.

Residential sales for the entire Association region for December 2021 saw a downtick of 25% over December 2020, clocking in at 654 units sold while still surpassing the previous recorded historical high.

“Even with a typical seasonal slowdown, sales across the region surpassed 2016’s record high,” says the Association of Interior REALTORS® President Kim Heizmann, adding that “the lack of supply continues to be a challenge for buyers as inventory lags behind demand.”

The supply of active residential listings saw a drop of 40% across the Association region compared to the 2,894 active listings during December 2020, with new listings also showing a 24% decrease over December 2020s 695 units.

“The number of active listings continues to fall short of buyer’s demand at historical levels, making it unlikely for buyers to see a softening on prices as we head into the new year,” says Heizmann.

The benchmark price for homes in the Central Okanagan, North Okanagan, South Okanagan and Shuswap/Revelstoke regions closed the year with double-digit percentage increases in year-over-year comparisons across all home categories.

In the South Peace River Region, where benchmark pricing is not available, the average price for single-family homes and mobile homes increased 44.5% and 56.9% respectively.

For more information regarding your area, please contact us.  

All the best, 

Dulcie & Eric

Okanagan Real Estate Market Demand Staying Steady As Supply Shortage Continues

KELOWNA, B.C. – November 4th, 2021. Residential real estate sales across the region from Revelstoke to Eastgate Manning Park and into the South Peace River region remain strong ahead of the slower winter season, reports the Association of Interior REALTORS®.

“Demand is still strong despite chronically low supply, but we are seeing a healthier environment for buyers and sellers compared to what we saw in 2020 and earlier in the year,” says the Association of Interior REALTORS® President Kim Heizmann, adding that “sales are transpiring at a good, healthy pace.”

Residential sales for the entire Association region decreased 18% over the same month last year, clocking in at 1,115 residential sales in October. This was a slight increase compared to September’s 1,067 sales.

The inventory, or supply of active residential listings was down 39% across the Association region compared to the 4,308 active listings during October 2020, while new listings slipped 12% over last year October’s 1,372 units.

“As we head into the final months of the year, we can see that this supply drought or lack of new listings has really become the main theme of the year. It will be interesting to see if this trend maintains or changes in 2022,” says Heizmann.

The benchmark price for homes in the Central Okanagan, North Okanagan, South Okanagan and Shuswap/Revelstoke regions continue showing double-digit percentage increases in year-over-year comparisons in all home categories.

In the South Peace River Region, where benchmark pricing is not available, average sale prices for single- family homes increased 11% but decreased 13.8% in the condominium category.

Contact Dulcie or Eric to find out more about the real estate market and how we can help you achieve your real estate goals.