The market in Kelowna continues to heat up with prevailing low inventory especially for properties priced under $560,000. That low inventory is causing residential property prices to keep rising.
Statistics from the Okanagan Mainline Real Estate Board (OMREB) show that last month the average home price rose by $30,000 from $630,000 in March to $660,000 in April of 2017.
The biggest fight for buyers were homes under $450,000 with some buyer’s choosing to purchase homes further out in Lake Country or deep into West Kelowna territory to find homes
Homes that are priced well are seeing multiple offers within a day of hitting the market. It’s definitely a seller’s market in Kelowna and throughout the Central Okanagan.
In April, there were…