Kelowna Real Estate Listings | View All
Aug 1, 2024
Kelowna's 2024 real estate market is influenced by several factors, particularly higher interest rates, which has reduced buyer activity. The ban on short-term rentals has caused some investors and vacation homeowners to sell, while others transition to the long-term tenant model. There’s been a decline in investment purchases overall due to this government legislation paired with unfavorable interest rates.
First-time home buyers have new support programs, including a 30-year insured mortgage for new-build homes and increased Property Transfer Tax (PTT) exemptions. The increased PTT exemption for new-builds is encouraging for buyers looking for the security and warranty that comes with a new-build purchase.
How do you best navigate the current market? Put the Kelowna Real Estate Pros to work for you. We’ve been through multiple market cycles which means you can leverage our experience to come out ahead.
June and July 2024 have seen the highest amount of condo inventory we've seen in the past 10 years.
July's townhome inventory is a 10-year record. This equals a lot of choice out there for today's buyers.
If you're looking to buy or sell Kelowna real estate, contact Nyrose & Associates today!
