February 1, 2025
Kelowna Real Estate Market Stats - Here's What Happened in January 2025. There are always outside factors that can affect the real estate market. 2025 brought with it the anti-flipping tax which discourages buying and selling a home within a 2-year period. In January, the Bank of Canada lowered its key interest rate another 0.25% bringing it to 3%. This is the sixth consecutive rate drop. We're also facing US Tariffs. And, Canada has an upcoming election in the fall. All of these things can impact Canadians, our spending, and the real estate market.
January has come out strong. We're up in inventory across the board (over January 2024 and December 2024). We're also up in sales across the board over last January. One month isn't enough of a trend to see what 2025 will bring, especially with outside factors at play. But, the Kelowna market is heading in the right direction and it looks like it should be a good year for those looking to buy and sell this year.
Of course, every buyer and seller has different motivations and goals so it always helps to have an experienced Kelowna Real Estate Pro on your side. If you are looking to make a move, call the Kelowna Real Estate Pros at Nyrose and Associates at 250-258-9888.
If you're looking to buy or sell Kelowna real estate, contact Nyrose & Associates today!