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Watch as Kelowna Realtor Darcy Nyrose takes a look at what happened in the Kelowna Real Estate Market in May, and what effect COVID-19 has had on the market and why Kelowna rarely follows the big drops often seen by other parts of the country.
Now, let's take a look at what happened with main property types:
Kelowna Condo Market - Snapshot of May 2020
The average Condo sale price was down over last month, and over May of 2019; however we also saw a very wide range of sale pricing. There was a $950,000+ condo sold at Big White in May, along with a $133,000+ condo sold on Westside Road. Both of these sales could be classified as vacation property homes.
Kelowna Townhome Market - Snapshot of May 2020
Like condos, the average Townhome sale price was down over last month, and over May of last year. This can be attributed to what's being called the "COVID-EFFECT" on the real estate market. The highest sale price was $860,000 in the Lower Mission and the lowest sale price was $171,500 in Westbank.
Kelowna Single Family Home Market - Snapshot of May 2020
The Single Family Home Market is already starting to see increased activity and sales prices. The average sale price of a single family home is sitting at $754,717. The highest sale price was a stunning home in Lake Country that sold for $2,400,000, while the least expensive home was in Rutland that went for $262,500.
For more information on what's happening in the Market Where You Live, get in touch. We LOVE to chat real estate.
