Kelowna
Kelowna is the city of British Columbia province of Canada. This city is famous for its international recognition and also for award-winning vineyards and wineries, so there is a lot of pride for its local wine industry.
The cost of living in Kelowna is almost 35% lower than the average cost for all of Canada. The average ranking of the city as the best job market in Canada came about the following year after year with a 14.3 percent job growth. Because of this, sales of houses in the city increase every year.
Statistic on Average Prices for Condos, Homes, and Townhouses:
For the very first time, the house buyers in Kelowna are the families who are asking for single condominiums and townhouses ranging from approximately $350,000 to $550,000. The first-time buyers who had a very difficult time in Kelowna real estate market in 2020 are now having relief in 2021. In 2020 there has always been a hesitation seen in home buyers because the real estate house prices never dropped.
Kelowna has houses with different construction styles in a much affordable range. 3 bed detached houses in Kelowna have a price of $936K. A three-bed townhouse is available in the city at a price of $588K. These houses are easily available and are comparatively affordable. The three-bed condos are available at an affordable range of $ 345K.
How Many Numbers of Properties do Kelowna Offer?
Every house with its own construction style has a different number of active listings. Total 133 active listings of detached houses are currently available in Kelowna ranging from 2 to 6 bedrooms. The townhouses have 9 active listings in the city within the same range. If we talk about the condos then within the same range 6 condos are available in the city for sale.
How Fast Is The Real Estate Market Moving?
The real estate market of Kelowna is hopeful to continue as the seller’s market in 2021, also with an active year onward. This is actually a characterization by increasing demand for townhouses and single families away from the big cities. Pandemic due to COVID-19 and also the potential fallout in the US will continue to run these conditions into the current year.
In Kelowna, the average sales price from January 1 to October 31 in 2020 was 5.6 percent to almost $553,175 as compared to $523,832 from January 1 to December 31 in 2019. An outlook for Kelowna real estate market in 2021 represents an increase of almost 5 percent in the average price to almost $580,833 across all the property types.
The number of Active Pre Construction Developments in Kelowna:
Kelowna has had almost 208 new listings in the past 28 days with 74 houses sold out. Kelowna has 8 average days on the market to sell a house. This city has a 108% selling to listing price ratio. The new listings of detached townhouses and condominiums are 129, 08, and 6 respectively.
