Kelowna real estate market could be ready to take off | iNFOnews | Thompson-Okanagan's News Source

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Kelowna News

Kelowna real estate market could be ready to take off

A booming Vancouver real estate market may translate into a boost to the Kelowna market, according to a report from a local real estate company.

“With Vancouver's sales up 45 per cent over last year and stories of 30-plus offers on one home last month, we suspect that in three to six months we will start to see Vancouverites coming to Kelowna in larger numbers,” the report from Re/Max Kelowna states. “They were responsible for up to 20 per cent of our buyers in recent years.”

It also says the COVID-19 virus doesn’t seem to be having any impact on the market.

“People are still moving,” the report states.

For now though, the market is holding steady.

The 122 single-family sales in February was below the 10-year average of 137 while townhome sales are up 32 per cent over last February and condos are “outperforming other segments."

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