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 homes hit the market.
Watch as Darcy Nyrose shares what happened in the Kelowna Real Estate Market in July 2022
Intrigued by what's happening and want to learn more about why you shouldn't panic? Watch PART 2 Where Darcy Nyrose discusses How Markets Work
We've had a nice steady rise in condo inventory so far this year. We're 13% over June and 69% over July 2021. While sales are sluggish, prices rose 2% over June 2022 and 19% over July 2021.
Townhome inventory was down slightly over June; however, we're up over 100% from July 2021. Sales are down considerably; however, prices rose 2% over June 2022 and 5% over July 2021.
Inventory is up almost 100% from this time last year, which means buyers have more selection and time to do due diligence. Sales slowed down 23% over June which resulted in a 5% price drop but still up 6% over this time last year.
If you're looking to buy or sell Kelowna real estate, contact Nyrose & Associates today!