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Is Our Market Beginning To Shift?

AJ Hazzi

After becoming a Realtor® in 2002, AJ Hazzi noticed a gap in the market and in 2008 he founded Vantage West Realty, a boutique firm dedicated to serv...

After becoming a Realtor® in 2002, AJ Hazzi noticed a gap in the market and in 2008 he founded Vantage West Realty, a boutique firm dedicated to serv...

Apr 7 2 minutes read

Here’s what you need to know about our Q1 real estate market.


Has the market started to shift? Buyers have been waiting for things to change for a long time, but are our recent developments good for them? Today I’ll be breaking down all the latest statistics from Q1 and tell you what they mean for both buyers and sellers.

 

You can watch my full market update in the video above, or you can skip to each topic using the timestamps provided:


0:00 — Introduction

0:54 — Sales are down, but sales dollars remain the same

1:41 — The average sales price is increasing faster than inflation

2:58 — Active inventory is increasing, but sales are decreasing

3:54 — The market may finally be beginning to soften

5:01 — Increasing rates are affecting affordability

6:29 — As long as inventory remains this low, prices will continue to rise

8:20 — Some final thoughts on price increases

9:24 — Wrapping up 


If you have questions about today’s Kelowna real estate market update or anything else, please call or email me. I look forward to hearing from you.

Market statistics are based on MLS® data as provided by the Association of Interior Realtors®.

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Looking to buy or sell real estate in Kelowna, BC, Canada? Contact Vantage West Realty, your Kelowna real estate professionals with 20+ years of experience in the Okanagan Valley.


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