Kelowna Real Estate Market Stats - Here's What Happened in June 2024
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- เผยแพร่เมื่อ 24 ก.ค. 2024
- Buyers - it's your market. This is the most inventory that's been on the market in the past 10 years (3,424 active listings in all categories in the Central Okanagan) - with last month and Spring/Summer of 2014 being next in line (all over 3000). With 9.6 months of inventory of Single Family Homes, 7.5 months of inventory for townhomes and just over 8 months of inventory for condos, buyers have a lot of choice out there. We're seeing buyers taking their time, practicing patience, and waiting for the right home at the right price. Tune in as Kelowna real estate pro Darcy Nyrose (Personal Real Estate Corporation) uncovers what happened in the Kelowna market in June.
For the full report visit - www.kelownarealestatepros.com...
For more information on the Kelowna Real Estate Market, or if you're looking to buy or sell, please call Darcy and the team at Nyrose & Associates at 250-258-9888
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Nyrose & Associates - www.kelownarealestatepros.com
250-258-9888
Hey Darcy, just wanted to say I really appreciate your data analysis of the Kelowna market. This information is invaluable to everyone. Keep up the great work. 👏
Would be interesting to compare housing sales figures for the region with employment data or rental vacancy rates or unit completions.
I can see the fear in your eyes. You know what is coming.
Hi Duckfield
The good thing about myself is being in the business since 1996. I have seen the ups and down of the Real Estate market much like many have seen the ups and downs of the stock market, Bitcoin and relationships. The best news about all of them are.... Nothing is easy. Nothing is a sure thing. Never jump into things feet first without research. Never buy high and sell low. Long term vision is always the best strategy. ( just ask my wife. We have been together since 1996 and with work, are relationship is the best it's ever been).
Or you can rent for the next 10 years and pay approx 3-5K per month to rent a townhome for example. Which equates to $360,000 of guaranteed lost monies. I prefer to pay off my own mortgage.
Hope this helps. - Darcy
@@KelownaRealEstatePros good reply :) sorry for giving you a hard time. I appreciate your videos you are usually first to get them out.
Thanks Darcy, quick as always. I do find it hard to believe people are able to trade up or down into a townhome for financial reasons when Strata fees are seemingly unaffordable and not showing signs of slowing in growth. a 3 bed at 570 Sarsons is $1120 a month!? even smaller no pool developments are $600-800. The drops this month in sales also pretty shocking after an interest rate cut.
0.25% rate reduction is belly button lint. Wake up.
Hi Graeme
Strata fees are a tough pill to swallow but once people realize what Strata fees are used for this really starts to make sense. Strata fees could be paid to the strata corporation by every owner of a community to pay for things such as ( each strata is different and their budget outlines what strata fees are used for). Plus the government has created a mandatory Depreciation report to ensure the owners or strata have accounted for future maintenance costs, just like homeowners should with their own Single Family home. So the unexpected costs may have most of the expense already saved.
Landscaping
Building insurance
Snow Removal
Garbage and Recycling
Exterior building maintenance - roof, siding, windows
contingency fund
electricity for common area lights
water for irrigation
amenities - pool, gym, guest suite, clubhouse etc
As a single family homeowner or freehold property owner the above costs would be paid as well but by you only outlined below
landscaping maintenance - your sweat equity or company
Building insurance as part of your home insurance
garbage and recycling on your tax bill
Water for your irrigation on your water bill
Amenities - your monthly gym membership, hotel for guests, no clubhouse to have gatherings
Roof and exterior repairs - all on your cost
Snow removal - sweat equity on your part again or hire out.
Hope this helps.
@@thatfarm499 Hi Thatfarm499
You are correct .25% rate reduction is belly button lint but would you have prefered it to increase by .25%. Like a relationship, you have to start somewhere to get to the place you want to be. A small gesture in the right direction will get us to where we need to be. However, if you wait for the overnight rate to get to .25% again you will be too late. Let's talk real estate again in 10 years and see if waiting was the right thing to do. If we had a crystal Ball we would be living on the beach right now. Look forward to the chat.