The Kelowna real estate market is hot even with the cold of a lingering winter
The Kelowna real estate market is hot even in the winter, when we typically see demand slow in all other markets. The demand for Kelowna listings still remains at a high with real estate hunters from high priced cities like Vancouver continuing to flood our phones and inboxes with inquiries. While there are reports such as this one indicating that the population growth in Kelowna is slowing down slightly; we are still considered among one of the fastest growing cities in Canada.
There are over 127,000 fortunate citizens who call Kelowna home now, which means our little town has grown by over 8.4% or 10,000 residents since the last census in 2011. Taking into account that we grew 10.8% between 06-11 that equals a lot of real estate buyers looking for listings on the Kelowna MLS.
While the buyers continue to come in droves from Vancouver, Victoria, Alberta and Ontario, we are faced with the seller’s best case scenario – low inventory on the MLS. We will likely see this change come spring, as more people tend to want to list their homes when the flowers begin to bloom, but until then, we are looking at a sellers market here in Kelowna. If you’ve been waiting until the groundhog says spring has arrived you may want to consider the following reasons to list your Kelowna home for sale while the weather marmot goes back to bed for a few more weeks.
Listing your home in the winter can mean that you will also attract the buyer that are in greatest need. Generally the winter house hunters are looking for a place sooner rather than later, so you can genuinely find the right buyer in a shorter amount of time.
The other great thing about listing in the winter is the one we’ve already alluded to above – the inventory is low! This means that you won’t have as much competition and your house will stand out a little better on the MLS.
So whether you’re one of the lucky souls who are relocating to this lakeside town or you’ve been thinking of listing your home for sale in Kelowna – give me a call for more information on the local, Kelowna real estate market and let’s chat about your upcoming move!
Content Marketing by EstateVue