May 1, 2024
In this month's Market Report, experienced Kelowna Real Estate Pro, Darcy Nyrose, takes a look at what happened in the market in April 2024. BC's new legislation surrounding short-term rentals went into effect today, and we've already started to see some listings that were once short-term rentals hit the market. What do we expect to see over the next few months? Watch as Darcy takes a look at what happened in the Market in April and what we can expect to come.
We're starting to see an increase in condo inventory, with 723 active listings in April. This is up 55% over April 2023. With the new short-term-rental restrictions in place in our province, we are expecting to see additional condo inventory and sales throughout spring and summer.
We're seeing increases all-around in the townhome category with more inventory and sales than March 2024 and April last year. In addition, prices have also increased.
If you're looking to buy or sell Kelowna real estate, contact Nyrose & Associates today!