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Things are not all doom and gloom! If you look at the chart below – the forecast for the Okanagan housing price average is predicted to be up by 8.3% at the end of this quarter! That’s good news!

We are striding into a more balanced market which is great for both buyers and sellers at the same time! No hesitation to buy as prices are not falling and no hesitation to list for sale either, as prices remain strong just increasing a little slower than the past two years. Don’t know how much your biggest asset is worth? Give us a call and we can help – we can supply you with the information needed to make an informed decision on what to list your property for in order to get is sold in the shortest amount of time and for the highest price.

Multiple Listing Service® (MLS®) residential sales in our province of BC are forecast to decline 23 % to 80,000 units this year, after recording 103,768 residential sales in 2017.
MLS® residential sales are forecast to increase 12 % to 89,500 units in 2019. The 10-year average for MLS® residential sales in the province is 84,800 units.

For a full recap read more here

 

Okanagan Mainline Housing Table for the fourth quarter of 2018
Unit Sales                                                                                                                                        Average Price MLS $$$$
2017                2018 forecast               2019 forecast                           2017                       2018 forecast                 2019 forecast
9,053                     7,450                             7,800                              $497,604                        $539,000                             $565,000
BC Total
103,764                  80,015                         89,510                               $709,577                       $718,600                        $760,000

 

 

Keep checking back to our blog page for more information on the crazy Kelowna housing market!

Tamara & Shannon Stone

 

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