KELOWNA REAL ESTATE MARKET STATS APRIL 2018 | NYROSE AND ASSOCIATES

The Spring real estate market is in full bloom.

The Kelowna Real Estate Statistics for April 2018 are out and we see a continuation of a moderating trend.  Sales are down roughly 15% from April 2017, while prices are still up approximately 10% over 2017.  April statistics reveal a transitioning market, as new listings increased and sales declined.

We have seen the typical Spring increase in activity as of April 2018 and will be closely watching May so we can assess the trend and keep our clients informed and on top of the Kelowna real estate market. If you are thinking of selling, you will want to be proactive and start the conversations with your REALTOR® now.

HIGHLIGHTS FROM APRIL 2018:

• Total sales down 15% over April 2017
• Total prices up 12% over April 2017
• Months supply for April 2018 is 4.3

What we have also seen is a slightly larger decrease in the sales of condos.  Is this simply an anomaly or can we attribute it to the pending speculation tax.

Movement across all home types has lessened, and the questions remain, is this part due to fewer foreign buyers, fewer speculative buyers or simply a late Spring - all contributing to a fluctuating market.

“Recent changes to mortgage regulations are fueling demand for lower priced homes while shrinking the pool of qualified buyers for higher-priced homes. Given their limited supply, the shift of demand into lower price segments is causing those sale prices to climb.”  - Gregory Klump, CREA Chief Economist

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For more information on the pulse of the Kelowna Real Estate Market – listen to a recent podcast that Darcy Nyrose, Personal Real Estate Corporation of Nyrose and Associates, A Licensed team with Coldwell Banker Horizon Realty did with the Kelowna Now’s Mike Chisholm and the Kid

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https://soundcloud.com/user-100700147/chisolm-and-the-kid-with-darcy-nyrose

For any information on the state of the Kelowna Real Estate Market, contact us at 250-575-1946 or contact@kelownarealestatepros.com.

You Can Also Visit Our Kelowna Real Estate Market Stats by Neighbourhood to learn more about market activity in specific areas of Kelowna. View Our Neighbourhoods Here.