December’s Residential Market Poses No Surprises, the market is doing what it tends to do this time of year with all indicators pointing to a generalized slow-down. We can expect that the 2019 market will continue to moderate, as compared to recent years, with all signs pointing to more balanced conditions where buyers and sellers are benefitted more equally.
KELOWNA, B.C. – December 4th, 2018. November saw residential sales posted to the Multiple Listing Service (MLS®) drop to 459 for the Peachland to Revelstoke region, a 28% decline from the previous month and 24% fewer sales than this time last year reports the Okanagan Mainline Real Estate Board (OMREB).
"Last month, we waited to see how the market would react to the Bank of Canada’s latest interest rate hike and the BC government’s tabling of their speculation tax and while the market traditionally slows this time of year, we are also likely seeing the effects of these actions," comments OMREB President Marv Beer.
This LUXURY ONE OF A KIND home is perched atop a rock bluff overlooking Kelowna & Okanagan Lake offering unobstructed 300 degree views. Live the PENTHOUSE LIFE like no other! Located on the edge of downtown Kelowna this property offers an exceptional living experience with a floor plan that shines! 4 beds + flex room & 3.5 baths all have jaw dropping views & the open living space flows right to the outdoors complete with dipping pool (along with a SwimPro system for fitness), eating/lounging areas perfect for the fire table along with access to a full size hot tub. A CHEF’S DREAM, the modern island kitchen not only has several work stations it comes complete with a 6 burner gas Jenn-Air stove topped by a custom eye catching industrial range fan, a huge fridge/freezer combo, butlers pantry with second sink & direct access to a large laundry room with dog bath & built-in cabinetry. The MAIN FLOOR MASTER bedroom is a SPACIOUS RETREAT & a place to relax. With room for a king size bed, you’ll love the sweeping valley and lake views and when it’s time for sleep there are floor to ceiling BLACKOUT DRAPERY. Inside the SPA-LIKE ENSUITE you’ll find double vanities, a soaker tub as well as a walk-in BEACH SHOWER with it’s own VIEW WINDOW overlooking Dilworth Mountain and Kelowna Golf and Country Club. This unique home also offers other great features such as an OVERSIZED GARAGE, EXTRA SOUND PROOFING features & a huge storage area. CHRISTIAN KIRSCHKE, COLDWELL BANKER 250-863-2000. Coldwell Banker Horizon Realty MLS®10172228
October market shows that the growing housing supply is a strong indicator of continued movement towards a balanced market where sellers and buyers are favoured more equally. Visit: www.OMREB.com for for market statistics.