Kelowna Real Estate Market Stats & Trends - MARCH 2017

It has been another great month for the Kelowna Real Estate Market. The most notable change from last month is the increase in Apartment/Condo and Townhome sales.

Highlights from March Real Estate Statistics:

• THE MEDIAN SALE PRICES ON CONDO/TOWNHOME SALES  ARE UP BY 18%
• THE MEDIAN PRICES ON CONDO/TOWNHOMES ARE UP BY 19%
• SINGLE FAMLY HOME SALES ARE UP BY 16% OVER MARCH 2016
• THE MEDIAN SALE PRICE ON SINGLE FAMILY HOMES IS $590,000
• THERE WERE 559 TOTAL PROPERTIES WERE SOLD IN FEBRUARY 2017

With the lack of Kelowna Real Estate Listings for residential properties paired with strong demand, particularly for condos and townhomes, low inventory continues to impact Kelowna's housing market. It is estimated that home prices will likely continue to increase until we see more housing supply come on to the market.

If you are thinking about selling or purchasing a property, please contact Darcy Nyrose, Personal Real Estate Corporation or our team of experienced REALTORS® of Nyrose and Associates at 250-575-1946 to discuss the market or to book an appointment.