Central Okanagan Real Estate News by Dulcie

HOT New property listed in Kelowna
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HOT New property listed in Kelowna

I have listed a new property at 580 Denali Drive in Kelowna. See details here Beautiful Lake, City and Mountain views from this 5 bedroom, ...

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HOT New property listed in Kelowna
New Listings

HOT New property listed in Kelowna

I have listed a new property at 465 Okaview Road in Kelowna. See details here Located in sought after Upper Mission on a 0.4-acre lot ...

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HOT New property listed in Kelowna
New Listings

HOT New property listed in Kelowna

I have listed a new property at 104 2550 Hollywood Road in Kelowna. See details here Former show home. Open floor plan with vaulted ...

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New property listed in Kelowna
New Listings

New property listed in Kelowna

I have listed a new property at 265 Fir Court in Kelowna. See details here This once can be yours: Townhome with no monthly strata ...

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New property listed in Peachland
New Listings

New property listed in Peachland

I have listed a new property at 6486 Sherburn Road in Peachland. See details here You will be amazed at the beautiful lake and mountain ...

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6486 Sherburn Road. Amazing views. Ready for development. Offered at $439,900.00
Kelowna and Area Real Estate News

6486 Sherburn Road. Amazing views. Ready for development. Offered at $439,900.00

Located in a family friendly neighbourhood with lots of new homes. This lot is ready to go. Don’t miss out on this opportunity. Get ...

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Okanagan Real Estate Market Demand Staying Steady As Supply Shortage Continues

 

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.

 

 

 

 

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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.