Residential sales across the Okanagan, BC and Canada are showing signs of calming after months of record highs.There is a slight reduction in pressure that is creating a calming effect for a
May 2021 Real Estate Update
Dated: May 17 2021
First of all I would like to welcome Chad Bennett and Carolynn Moon to the Move Okanagan Group who both joined this month. Chad was number 3 at Re/Max Kelowna and Carolynn was also a Top Producer in Toronto. My Team now has 4 agents, including Tara Crittenden and 2 Unlicensed Admin. Assistants.
I am overly excited about this growth and thrilled to work with such fine people on my Team.
Our core values are:
•Integrity powered, we put clients needs first
•Trustworthy passion for sales
•Focusing on possibilities and results rather than challenges
•Magnetic high energy outcomes with a positive attitude
•We demonstrate pride, enthusiasm and excellence in everything we do
Here is a link to our Meet the Team page: https://www.moveokanagan.com/
It is still a crazy market, and who knew that prices would keep climbing up! It has slowed down a bit since the travel restrictions, but we are still battling low inventory.
Sales and prices are up compared to the same period last year, however that increase is in direct relation to the quarantine experienced throughout the month of April 2020 and not a true reflection of accurate market changes.
We can’t look at the data as we normally would as this time last year we were in the thick of our first lockdown due to the pandemic, what we can look at is what is currently happening and currently supply is still not catching up to demand. We are in a supply drought when it comes to listings.
Let’s look at Sales prices from April 2016 to April 2021: (average price, Central Okanagan)
Single Family home: 604,952 742,553 1,030,020
Townhomes: 391,227 498,853 641,003
Condos: 279,365 335,673 435,301
Pretty amazing figures! Please see the below detailed Stats Sheets for Central Okanagan, North Okanagan and South Okanagan, with price increases and sales.
My daughter Stephanie is a mortgage broker and can deal with over 40 lenders and is available anytime to discuss refinancing or a new mortgage www.onetreemortgages.com
Wishing you a wonderful May. Always working in your best interest.
Annette and Team
Quote of the day: Connect deeply with others. Our humanity is the one thing that we all have in common.
Move Okanagan Group – serving Kelowna – Lake Country – Vernon – Silver Star
Annette has been in Real Estate since 1994. Her determination to uphold a tradition of trust, integrity, and expertise has earned her a long list of satisfied clients who recommend her at every opp....