Your Kelowna Lake Country Real Estate Connection
#100-1553 Harvey Ave V1Y 6G1 Kelowna, BC, Canada

Is the market tanking in Lake Country? Short answer - No, but there are signs of a change and it is getting trickier to sell the higher end homes. If you have 2 minutes for a little bit longer, smarter answer read on: Supply v's demand dictates the market conditions and it is gauged by looking at "inventory on hand." Checking back at the last six months we take an average of how many homes sell per month and the see how many months it would take to sell all the product ava...ilable today... Generally around 3-6 months supply of inventory on hand denotes a balanced market. Over 6 months supply a sellers market and below 3 months supply is a strong sellers market. Here is how that picture looks by category in Lake Country today: Apartment / Condos: 15 for sale & 35 sold in last six months - Sellers market! Town-homes: 25 for sale & 33 sold in last six months - Balanced market. Single family under $1m: 76 for sale 91 sold in last six months- Balanced market. Single family over $1m: 70 for sale 24 sold in last six months - Buyers market. *We have sold two high end homes in Lake Country in the last ten days and got great prices. the averages are just that. It is just not as easy as it was last year! The market is changing, the supply and demand picture was dramatically different last year. However, we could say things are more "normal" now. Let's also take a wide snap shot of the last 30 days and, the thirty days prior to see how fast things are changing. Last 30 days: 53 homes listed 25 sold Prior 30 days: 49 homes listed 33 Sold So supply is edging up despite the colder weather and sales are dropping. If that continues by next spring we will likely see lower prices. This is of course, all general data if you would like a complimentary report on your own neighborhood call the RE/MAX Lake Country Connection Steven Bergg at 250.575.1432.

Open House Sunday 12-2pm: 3050 Jolinda Court. $550,000 Super cozy family home on a generous sized lot with lake view and attached garage PLUS a large detached garage & workshop. Come and take a look!

Click the link below to view all of the homes that were sold in the past week in Lake Country as well as to see their actual selling prices! If you would like a report like this sent to you, with information on any area in the Okanagan that you would like, e-mail me at [email protected] and I will make sure you get everything that you are looking for! https://matrix.interiorbc.ca/DE.asp?ID=1868284239

Get the inside scoop on Lake Country Real Estate: At this time last year, there had been 216 homes sold and the top 10 highest selling properties had an average sale price of $2,060,000. This year we have seen 184 sales. While sales volume is down substantially, the actual selling prices are still strong at this time. Follow the link to see this year's top ten highest value sales: https://matrix.interiorbc.ca/DE.asp?ID=1859063786