August 2016

Found 4 blog entries for August 2016.

 

Who were the first people to call Kelowna home?  The Salish people, an Indigenous Tribe, trace their history back 9,000 years.  The first European to settle in the Okanagan was a French Catholic missionary – Father Pandosy.  Today just about every nation from all parts of the world make the Kelowna area their home.

Many know their roots but there are others who don’t have a clue. Hence the popularity of TV programs that trace people’s genealogy, or ads on TV for DNA tests that will prove where you originated from.  Genealogy is big business and with technology it’s easy to dig up information on your ancestors.

Genealogy in Kelowna

The Kelowna and District Genealogical Society has provided the information and support for local residents to

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From their vacation home in Kelowna, Albertans can experience the kind of summer they often don’t enjoy at home.  More sun, less rain, warm evenings well into the night and the lake.  Lots and lots of lake.

So even though Alberta’s economy still isn’t great, home buyers from the east are still helping to drive Kelowna’s hot resale home market and providing new construction firms with plenty of business.

Checking stats from Canada Mortgage and Housing Corp (CMHC) for the first six months of 2016, there were almost 3,600 sales.  The first half of 2015, there were just 2,700.  The average selling price of residential property is $485,100 which is up over $55,000 compared to last year.  Looking at new construction, the first half of this year there

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Last week, July 2016 statistics were released by the Okanagan Mainline Real Estate Board (OMREB).  Now that some time to digest them has gone by,  we’ve drilled down to uncover some fun facts about the market in Kelowna and the Okanagan region.  Here they are in completely random order.  Enjoy.

  • Because it’s a seller’s market right now you may think that the number of new listings are beginning to drop.  In fact, there were the same number of new listings in July 2016 as there were in July 2015.   However, sales are up more than 26% over last year and overall, 34% fewer homes on the market.
  • There were 174 more properties sold last month than were sold in July last year – an increase of 33%.
  • Clients selling their homes in Kelowna are
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Kelowna truly is the Okanagan’s hot pocket.  Anticipated population growth in the region and the boost to the economy is expected to keep the bustling real estate industry busy until at least 2021.

This forecast was issued by Canada Mortgage and Housing Corporation (CMHC) after analyzing B.C.’s interior real estate climate.  Spokesman Taylor Pardy said that housing in all sectors will remain elevated for the next five or so years.  The two strongest demographics moving to Kelowna and the Okanagan are young adults and retired people, indicating strong buyer interest in apartment condos, town houses and duplex homes.

The news from CHMC indicates that the region is attracting more than just vacation home buyers and seniors looking for a nice place

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