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. […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose November 1, 2022 - In this month's Kelowna Market Watch report, REALTOR® Darcy Nyrose recaps the Kelowna real estate market activity for October 2022 and zeroes in on a few popular neighbourhoods and their micro-market activity. Because different pockets of Kelowna […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose October 1, 2022 - In this month's report, Darcy Nyrose recaps the Kelowna real estate market activity for September 2022 and things to watch out for as we head into fall; including, interest rates and elections. Plus, if you think there's […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose September 1, 2022 - In this month's report, Darcy Nyrose recaps the Kelowna real estate market activity for August 2022 and what we can expect to see as we head into fall. And, for those who have been hearing the rumours […]
Kelowna Real Estate Stats & Trends - Your Market Report With Kelowna Realtor Darcy Nyrose In this month's report, Darcy Nyrose recaps the Kelowna real estate market activity for July 2022, looks at the trends and what we can expect to see as we head into the final days of summer. Watch as Darcy Nyrose […]
Kelowna Real Estate Stats & Trends - Your Market Report With Kelowna Realtor Darcy Nyrose In this month's report, Darcy Nyrose recaps the Kelowna real estate market activity for June 2022, looks at the trends and what we can expect to see as we head into summer, and discusses why we're starting to see more […]
Kelowna Real Estate Stats & Trends - Your Market Report With Kelowna Realtor Darcy Nyrose In this month's report, Darcy Nyrose recaps market activity and explains how a sellers, balanced, and buyers market is determined. For the past 2-years and counting, the Kelowna real estate market has firmly been considered a "Seller's Market". Which property […]
Kelowna Real Estate Stats & Trends - Your Market Report With Kelowna Realtor Darcy Nyrose We're starting to see an increase in real estate inventory which is a good thing. After all, a more balanced market benefits everyone. We've also noticed that buyers are beginning to take their time, and be more strategic with their […]
Kelowna Real Estate Stats & Trends - Your Market Report With Kelowna Realtor Darcy Nyrose There's a lot at play, locally and globally, that could have an affect on the local real estate market including potential for rising interest rates, gas prices, real estate policies such as the cooling off period that is coming into […]
Kelowna Real Estate Market Stats & Trends With Kelowna Realtor Darcy Nyrose Two months into 2022 and, although February's market activity picked up over January's numbers, we're still seeing a huge lack of inventory (even for this time of year) which means sales are unseasonably low and pricing continues to be pushed. For the market […]
Kelowna Real Estate Market Stats & Trends With Kelowna Realtor Darcy Nyrose 2022 is the year of the Tiger which symbolizes courage. strength and bravery; it's said to be a good year for taking risks, seeking adventure and finding enthusiasm. In the world of Kelowna real estate, 2022 might very well be 'the year of […]
