The March 2021 Kelowna Real Estate market review is now available. Scroll through to see how well the Central Okanagan market is doing. Click here to download the report as a PDF. You can also view past reports here.
Well, what a week and month it has been. It feels like we are starting April off just like last year with restaurant dine-in stopping for a while, but I do not want to go down that path with this email so let’s look at the positives of the past year. One of the main things that I have noticed is the amount of
time families are spending together. We see it in our neighborhood every day. Families out for a bike ride, a walk or skating on Green Bay when it froze over this winter. It’s nice to see kids having some quality time with their parents. With the changes to the restaurant business this week hopefully everyone can help those businesses survive by doing a few more takeout dinners over the next 3 to 4 weeks. We all want those businesses to be open again.
What has the real estate market been up to over the last 31 days? The market is continuing to be fueled by people moving to our community and first-time buyers entering the market. Every sector of our real estate market is up again this month except for days-on-market which are down by 47% to 33 days on average. The average price of a single-family home has increased to $967,452 this is a 34.74% increase from just a year ago. One of the most amazing stats to me is the number of homes priced over a million dollars selling this year compared to last March. We had 232 homes over a million dollars sell this month compared to 42 just a year ago. This is part of the reason that the average house price has increased as much as it has.
To find out more about the current real estate market reach out to any of our full time, professional RE/MAX agents.
Have a great Easter Weekend.
– JERRY REDMAN Owner / Director
