Here's What Happened in September 2020

For the past couple of months we've been commenting that the Kelowna real estate market is HOT. September was no different. In the Central Okanagan there were 792 Sales in September. In the past 5 years, the only time we've seen more than that was back in May and June of 2016 where we saw 857 and 860 sales, respectively.

When it comes to pricing, single family homes are reaching record sales prices. At $905,390 this is the highest average price we've ever seen!

When combining all property types we're averaging a sale price of $674,279  which is also the highest we've seen. And, it represents a 66% increase from Sept. 2010 to Sept. 2020.

It all comes down to supply and demand, and the fact that people WANT to live here.

If you are thinking about buying or selling now, it's the time for an excellent strategy.

Buyers have to act fast and go in with the right offer. Many homes are getting accepted offers within days or even hours of hitting the market and entering multiple offer situations. Some, like our recent Peak Point listing, are also selling for above list price.

Sellers have an opportunity when it comes to pricing and negotiations, too. The price you list your home at will determine the pace and price of sale, too. If you're thinking of selling, we encourage you to get in touch to learn about our three-tiered strategy for pricing.