Kelowna Real Estate Market Update

There are many great Kelowna area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 250-717-3133 for a FREE home buying or selling consultation to answer any of your real estate questions.

Kelowna Real Estate Market Update

As we cruise through the month of May, I wanted to stop by and give you a real estate market update. Here is an “in the trenches” look at what is happening in our market:

• Inventory is very low. We have found that there is only about four months of inventory – if we had six months’ worth of inventory, the market would be considered “balanced.” The market is definitely favoring sellers. As a consequence, we are having trouble setting up showings for buyers – it seems that if we set up 4-5 showings, 3-4 homes have already been sold!


• The Days on Market (DOM) has drastically decreased. Due to low housing inventory, the DOM has dropped from well over 100 days, to less than 60 days. Our office’s DOM is sitting at 27 days!


• Multiple-offer situations. This week alone, we had five multiple-offer situations where homes were selling at or above list price. Although there haven’t been any statistics to show that prices have risen, sellers are still able to obtain a price that they couldn't have gotten a few months back.


• Sustainable growth period. The market may not see numbers from the likes of 2005-07 where we saw 10-20% increases, but the market is finally moving away from the flat prices that it has experienced for the past five years.

If you are thinking about putting your home on the market, please have us out to your property in advance. We can advise you on the little touches, secrets and tips that will maximize the value of your home. 

I am pleasantly surprised by the speed of the market and I know other Realtors in the area are as well! You can expect the strong spring market to keep going!

Thanks and have a great day!

How we help Ron flip houses by providing him with good suggestions

"The Vantage West Realty Group really knows what they’re talking about. They’re sharp, on top of their game, and give good suggestions. You can benefit from my great experience and work with them!"

-Ron Wilde, Home Seller and Buyer

How we helped Mike buy a home that met his criteria with our knowledge of the market

"Nick from Vantage West Realty Group fit the bill perfectly for what I was looking for in a Realtor. He was aggressive and always good for his word. He really knows the real estate industry and can spot a good deal. I would recommend him strongly."

-Mike Bourgeois, Home Buyer

How we helped Mark get a better deal with our Team Approach

"The Vantage West Realty Group’s team effort definitely stood out to me. There were different people carrying out different tasks and it made the whole process very efficient. Work with them and get ready for a positive experience."

-Mark McCullough, Home Buyer