April 10, 2024 As expected, the Bank of Canada held its key interest rates at 5%. The central bank emphasized that while inflation remains elevated, there has been a downward trend in core inflation measures, which exclude volatile sectors such as food and energy, over recent months. Addressing queries during a press briefing subsequent to […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Real Estate Agent Darcy Nyrose April 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 March 2024. The spring market has started a bit early with more homes hitting […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Real Estate Agent Darcy Nyrose February 1, 2024 In this month's market report, Darcy talks about how Kelowna's spring market has come early. With the holding of interest rates, Buyers have re-ignited their search and Prospective Home Sellers have gotten their homes listed ahead […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Real Estate Agent Darcy Nyrose February 1, 2024 In this month's market report, Darcy takes a look at what happened in January 2024 and what we can expect to see this upcoming spring. Here's an interesting fact that Darcy observed: over 1/3 of the […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Real Estate Agent Darcy Nyrose January 1, 2024 What's in store for 2024? In this month's Market Watch, experienced Kelowna Realtor Darcy Nyrose provides insight and predictions into Kelowna's real estate market and what we can expect to see in 2024. From interest rates […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Real Estate Agent Darcy Nyrose December 1, 2023 In this month's Kelowna Real Estate Market Report, Kelowna Realtor Darcy Nyrose recaps the current real estate market and what happened in November 2023. With incoming proposed changes to short term rental bylaws and regulations, we're […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Real Estate Agent Darcy Nyrose November 1, 2023 In this month's Kelowna Real Estate Market Report, Kelowna Realtor Darcy Nyrose talks about winning at real estate by playing the long game. It's a lot like football. When you strategize with the mindset of patience […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Real Estate Agent Darcy Nyrose October 1, 2023 If September's real estate sales seem low, it's not your imagination. This was the least amount of sales in the Central Okanagan for the month of September in at least the past ten years. With only […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose September 1, 2023 Often in the Kelowna real estate market, August slows down a little bit. Out-of-town buyers are on their way home (many Alberta school districts start in late-August, as an example), and our local families try and take advantage […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose August 1, 2023 On July 12, 2023, the Bank of Canada announced another interest rate hike, right on the heels of one in June. Leading to this announcement, many were speculating if rates would hold, continue to raise, or even go […]
July 12, 2023 - The Bank of Canada has raised its interest rate by another 25 points to 5 per cent, right on the heals of June's rate increase. While this wasn't unexpected today, many are wondering how this will affect the real estate market moving forward. New Developments If the Developer has not yet […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose July 1, 2023 It's July, the longest day of the year is behind us, and we're halfway to 2024. This allows us to have excellent insight on what's happened in our real estate market so far this year, as well as […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose June 1, 2023 Great news is that this spring we're seeing a more balanced market which is better for everyone. A balanced market is one where there is approximately 4-6 months of inventory and it's great to see all home categories […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose May 1, 2023 Qualified buyers are back! We're seeing buyers who are ready to purchase coming from out-of-town, out-of-province and locally as well. We're also seeing more and more sellers ready to price their homes at current fair market value. This […]
April 12, 2023 - The Bank of Canada announced today that it will continue to hold its key interest rate at 4.5%. 2021 and the early months of 2022 saw low inventory, record-high housing prices and low interest rates. It was a combination that resulted in further reducing inventory and escalating real estate prices. In […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose April 1, 2023 It's The New Normal. In this month's Kelowna real estate market update, Darcy provides excellent insight into the past year. Since April 2022, we've seen a calming of the market. With interest rate hikes and buyer uncertainty, a […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose March 1, 2023 Watch as Darcy Nyrose shares what happened in the Kelowna Real Estate Market in February 2023 and why he's pumped for the rest of 2023. When comparing to last year's numbers, don't worry. February 2022 was crazy. […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose February 1, 2023 - Watch as Darcy Nyrose shares what happened in the Kelowna Real Estate Market in January 2023 and why he's excited for the spring market. We've all just experienced the upward tailspin that was 2021/early-2022 Kelowna real estate. […]
Updated - Feb. 2023 - 2021 and the early months of 2022 saw low inventory, record-high housing prices, and low interest rates across Kelowna (and many cities in Canada). Inflation peaked at 8.1% in June and has been declining since. November's inflation rate was 6.8%. February 2023's inflation rate is 5.92%. In efforts to tame […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose January 1, 2023 - You know the saying "in like a lion and out like a lamb"? That is a great way to describe the real estate market in 2022. The market started out HOT, and with far more buyers than […]
Foreign Buyer Ban - 2023 BC Real Estate News Earlier in 2022, the Canadian government announced a two-year restriction on foreign buyers purchasing real estate in Canada. This was in an attempt to curb speculation buying and quickly-increasing home prices across the country. In addition, the restrictions are meant to allow Canadian buyers the opportunity […]
The government has introduced a cooling off period for buyers, in response to the 2021-early-2022 hot real estate market that saw many buyers putting in unconditional offers on their home purchases. Beginning January 1, 2023, home buyers can rescind their purchase contract within 3 days of a seller accepting it, should they change their mind. […]
New Strata Laws - Here's What Happened in Real Estate in 2022 New strata legislation came into effect in November 2022 that deemed almost all rental by-laws no longer enforceable. A couple of bylaws that remain in effect include short-term rental bylaws prohibiting Airbnb type rentals and age restrictions for 55-and-over strata communities/buildings. This was […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose December 1, 2022 - In this month's Kelowna Market Watch report, REALTOR® Darcy Nyrose provides a synopsis for what's currently happening in the Kelowna real estate market. Sales volume is down across the board in November (vs October 2022 and Nov. […]
