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October 1, 2022 - In this month's report, Darcy Nyrose recaps the Kelowna real estate market activity for September 2022 and things to watch out for as we head into fall; including, interest rates and elections. Plus, if you think there's a lot of presale and construction activity, you're not wrong. Watch as Darcy provides insight into what happened in September's market, what we're likely to see in the fall, and how new construction and presales factor into the real estate equation.
Watch as Darcy Nyrose shares what happened in the Kelowna Real Estate Market in September 2022
Central Okanagan condo inventory is up 100% over this time last year, and is holding steady with August's numbers which is great news for condo buyers as more inventory means more choice. That being said, the number of sales in September is down over last year, and last month. And, average sale price has dropped 14% over august but is still up 23% over last year.
Like condos, townhome inventory is holding steady with August's numbers and is up over 100% over this time last year. We're seeing low volume of actual sales though - we're down 13% over August and 30% over this time last year. It doesn't appear to be affecting the sales' prices too much though - the average sales price is up 4% over August and 15% over this time last year.
There's a lot of choice on the market for single family home buyers right now - inventory is up 81% over this time last year. Sales' numbers are down 40% over this time last year; however pricing is up 22% over September 2021.
If you're looking to buy or sell Kelowna real estate, contact Nyrose & Associates today!Â
