Updated - Feb. 2023 - 2021 and the early months of 2022 saw low inventory, record-high housing prices, and low interest rates across Kelowna (and many cities in Canada). Inflation peaked at 8.1% in June and has been declining since. November's inflation rate was 6.8%. February 2023's inflation rate is 5.92%. In efforts to tame […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose January 1, 2023 - You know the saying "in like a lion and out like a lamb"? That is a great way to describe the real estate market in 2022. The market started out HOT, and with far more buyers than […]
Foreign Buyer Ban - 2023 BC Real Estate News Earlier in 2022, the Canadian government announced a two-year restriction on foreign buyers purchasing real estate in Canada. This was in an attempt to curb speculation buying and quickly-increasing home prices across the country. In addition, the restrictions are meant to allow Canadian buyers the opportunity […]
The government has introduced a cooling off period for buyers, in response to the 2021-early-2022 hot real estate market that saw many buyers putting in unconditional offers on their home purchases. Beginning January 1, 2023, home buyers can rescind their purchase contract within 3 days of a seller accepting it, should they change their mind. […]
New Strata Laws - Here's What Happened in Real Estate in 2022 New strata legislation came into effect in November 2022 that deemed almost all rental by-laws no longer enforceable. A couple of bylaws that remain in effect include short-term rental bylaws prohibiting Airbnb type rentals and age restrictions for 55-and-over strata communities/buildings. This was […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose December 1, 2022 - In this month's Kelowna Market Watch report, REALTOR® Darcy Nyrose provides a synopsis for what's currently happening in the Kelowna real estate market. Sales volume is down across the board in November (vs October 2022 and Nov. […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose November 1, 2022 - In this month's Kelowna Market Watch report, REALTOR® Darcy Nyrose recaps the Kelowna real estate market activity for October 2022 and zeroes in on a few popular neighbourhoods and their micro-market activity. Because different pockets of Kelowna […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose 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 […]
Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Realtor Darcy Nyrose September 1, 2022 - In this month's report, Darcy Nyrose recaps the Kelowna real estate market activity for August 2022 and what we can expect to see as we head into fall. And, for those who have been hearing the rumours […]
