Momentum is building again

Описание: It was a reasonably strong July here in Kelowna with 228 residential sales recorded at a median sale price of $925,000. You can almost hear sighs of relief in our industry when monthly numbers are above 200 transactions and this has been the case for three months in a row. Sure, we all know slower winter months are coming soon but for the time being things are better than expected and most are cautiously optimistic about the fall market. I am too.

There were 208 transactions July 2024 which is a positive sign and year to date we are up 13% over last year. Things would have to completely melt down for this year not to be better than last year. We’re still now completely out of the woods in terms of forest fires but so far so good in that department. The improvement this year is in large part due to buyers who have been sitting on the fence waiting just getting tired of waiting and jumping in. There isn’t any real volatility in terms of interest rates and everything on the economic front is stable and predictable. These are good things and potential buyers who have been procrastinating are stepping forward.

August 2024 was where things begun to slow down last year but I’m going out on a limb and predicting that we will have another strong month this August judging solely on anecdotal evidence. Open houses are busies, calls and website enquiries are up as are showings and offers. These things lead to sold signs in front lawns eventually.

Thanks again for taking the time to read.

Kierra and Andy

GO FOLLOW us on other socials!
Strava:
Instagram:   / andy_smith_realtor  
Facebook:   / andy.paul.smith  

CONTACT US:
Email: [email protected]
Website: www.OkanaganBC.com

Our Featured Listings:

https://www.okanaganbc.com/property-s...

https://www.okanaganbc.com/property-s...

Coffee With Andy:
December 5:    • Limping Into December  

November 28:    • Kelowna Real Estate Market Update  

November 21:    • Kelowna Real Estate Market Report