A Look at West Kelowna Real Estate

Not unlike Kelowna, West Kelowna home sales were up 30% in May compared to the same month a year ago and up 37% from April 2013.

In addition, though West Kelowna's population (30,892) is 21% the size of Kelowna's (117,312), at the end of May 2013 West Kelowna accounted for 34% of the active single family residential MLS listings (1,424) and 30% of the home sales (774) year-to-date.

Since January, West Kelowna's monthly ratio measure has been trending 34%, 27%, 28%, 40% abd 60% respectively.

Is this kind of market movement what analysts might say is a transition from a 'buyer's market ' to a more 'balanced market' scenerio as we head into the summer months?

Another interesting residential market trend on both sides of the Okanagan Lake is the shrinking  housing inventory* levels according to Okanagan Mainline Real Estate Board data.  If this continues into the summer months might it build up a bit of summer sales momentum?

*Months of Inventory is the total amount of time it would take to exhaust current inventory on recent sales if no new listings were to come onto the market.

I am always happy to answer your Kelowna area real estate questions and assist you with sale and or purchase of a home!