Real Estate Market News

OMREB Q3 2020 Summary:  As usual, the majority of buyers come from within our own real estate board area, followed by the lower mainland and BC in general.  I kind of thought more Albertans had moved here but only 8% of our sales are to Albertans.

OMREB October 2020 Summary:  Who would have know that Sales, Price & Benchmark Price's would be up so dramatically with dramatically lower inventory levels?  It's been a whacky year that's kept us on our toes!  Condo's are bucking the trend with higher inventory levels, increased sales and prices.

RE/MAX says the Canadian real estate market is "ripe with a wide range of opportunities for both new homebuyers and homeowners looking to upgrade." Greater Toronto Area: $890,400 (+11.1%) Greater Vancouver Area: $1,038,700 (+5.3%) Ottawa: $517,800 (+19.9%) Greater Montreal Area: $408,200 (+16.4%) Halifax: $372,982 (+18.1%) Article

BC real estate sales almost hit $50B in first 9 months of 2020 Sales soar to $49.7B in the first 9 months of 2020, up 25% over last year! Article

September 2020 We are still playing catch up because of the slow spring we had!   The market continues to be strong in all price ranges in both sales and price.

GST & vacation homes Taxation on properties seems to be ever changing!  This article helps you navigate through how GST affects vacation properties in BC. Article

Retrofitting used homes to be a government priority The Province is moving forward with a plan to retrofit used homes to increase energy efficiency and reduce greenhouse gases.  BCREA is encouraging the government to be progressive, yet thoughtful about the impact on homeowners. Article

Skyrocketing strata fee's election priority for BCREA Strata insurance has been quite the nightmare in BC this year.  Fewer insurers & skyrocketing increases to policies means strata fee's have risen dramatically across the province.  BCREA is hoping that these issues stay top of mind to the political candidates. Article

OMREB Jan-June 2020:  I'm often asked where the Buyers come from and our Real Estate Board does an excellent job of collecting and providing this information to us every quarter.  If you're interested, click on the info-graphic and you'll see that about 84% of our buyers come from B.C. & 8% from Alberta (which is [...]

OMREB April 2020:  I'm often asked where the Buyers come from and our Real Estate Board does an excellent job of collecting and providing this information to us every quarter.  If you're interested, click on the info-graphic and you'll see that about 86% of our buyers come from B.C. & 5% from Alberta.

Population Growth & Housing Demand Immigration is the most important driver of population growth in BC. The global pandemic has resulted in a sharp drop in immigration and consequently BC reporting one of the lowest quarterly increases in population growth since 2011. In the short term, the impact of lower population growth will weigh most [...]

Q1 2020 Market Overview $728.2 Million transacted in Q1. 1,365 residential sales in Q1 Economic Overview Statistics {{ vc_btn: title=Full+Report&style=flat&shape=round&color=primary&link=url%3Ahttps%253A%252F%252Fmcusercontent.com%252F9691382a5a8b09c362ef1126b%252Ffiles%252F6cb3a8ae-9b0d-4884-a786-8dd893c2df0e%252FOMREB_Q1_2020_Market_Report.pdf%7Ctitle%3AOMREB%2520Q1%25202020%2520Market%2520Overview%7Ctarget%3A_blank }}

OMREB 2019 overview I'm often asked where the Buyers come from and our Real Estate Board does an excellent job of collecting and providing this information to us every quarter.  If you're interested, click through the couple of info-graphics and you'll see that about 77% of our buyers come from B.C. & 8% from Alberta.

2019 Market Overview $3.9 Billion transacted in 2019. 7,244 residential sales in 2019 Economic Overview Job Growth indicators {{ vc_btn: title=Full+Report&style=flat&shape=round&color=primary&link=url%3Ahttps%253A%252F%252Fmcusercontent.com%252F9691382a5a8b09c362ef1126b%252Ffiles%252F570d4ddf-0a46-48ca-9403-1d4199bdd8db%252FOMREB_Q4_2019_1_.pdf%7Ctitle%3AOMREB%25202019%2520Market%2520Overview%7Ctarget%3A%2520_blank%7C }}

Right in the heart of Kelowna you'll find this lovely 3 bedroom + den home.  Tastefully upgraded throughout... 1 level living with a full basement for family visits and hobbies.  The strata takes care of the outdoor pool and hot tub so you can relax!  $567,000  MLS#10197634 I am raw html block.Click edit button to [...]

BC housing market bouncing back as buyers return CBC News 25 Nov 2019 B.C.'s housing market is on the way back up, according to a report from economists at an agency that supports credit unions across Canada. Central 1's B.C. Resale Market Housing Outlook 2019-2021 says cheaper mortgages, population growth and price declines are bringing buyers back [...]