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Home » Kelowna Real Estate Stats - Market Update For March 2021

Kelowna Real Estate Stats - Market Update For March 2021

April 1, 2021

Kelowna / Central Okanagan sees record high sales numbers and record low active listings ...

It's the same story we've been telling - an abundance of buyers out house hunting and very low inventory. This is causing some buyers to experience what we call "buyers fatigue". Many buyers are missing out on homes over-and-over again and some are being priced out of the market.

Watch as Darcy Nyrose recaps what happened in March 2021, compares these numbers to one year ago, and talks about what we can expect for the rest of the year:

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Kelowna Real Estate Market By The Numbers

Here's your 'by the numbers' quick snapshot of what's happening in the Kelowna real estate market and across the Central Okanagan. Like always, we can see differences in micro-markets, so if you're looking to sell or interested in buying in a specific neighbourhood, let's chat! We can zone right in to show you what's happening where you live, or want to live.

 

 

 

 

 

 

 

 

Generally speaking, March is when Kelowna's real estate market starts to warm up. This year is different. We're over 100% increases in sales across the board.  When looking at the Central Okanagan across all property types, we had 1011 listings sell in March. In the past 10-years we've never even come close to that in March - the next highest March was in 2016 with 619. In fact, in the past 10-years we've never been over 1000 sales in a single month (the closest was 860 in June 2016). 

It's the complete opposite records when we look at active listings. There were 1402 active listings in March 2021. The next lowest active listings for a March was back in 2017 with 1898. Looking at the past 10-years, we hit 1407 in both February 2021 and December 2020, and before that it was in December 2016 when we had only 1502 active listings on the market.

 

If you're looking to buy or sell, put the experience of the Nyrose Team behind you - contact us today. We'd love to chat with you and help ensure you are in the prime position to take advantage of the current market.

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