Kelowna real estate market "reset"

The Kelowna real estate market is not "dead" but rather, not unlike other Canadian communities real estate markets, it has just "reset".  Despite the housing sale activity slowdown from the early 2010 peaks, continued historically low interests rates are drawing buyers into Kelowna's real estate market.  Yesterday Bank of Canada put interest rate hikes on hold until at least the Spring or as long as late 2011.

 Compare Kelowna September 2010 median house price with different Lower Mainland communities:

$417,000     Kelowna

$444,000     West Kelowna

$310,000     Chilliwack

$388,000     Abbotsford

$379,000     Mission

$716,000     Whiterock

$516,000     Langley

$474,000     Delta North

$510,000     Surrey - Central

$535,000     Surrey - Cloverdale

$450,000     Surrey - North

$752,000     Burnaby

$636,500     Coquitlam

$642,000     Delta South

$484,900     Maple Ridge/Pitt Meadows

$590,000     New Westminster

$860,000     North Vancouver

$495,000     Port Coquitlam

$804,000     Richmond

$430,000     Sunshine Coast

$750,000     Vancouver East

$1.6 mil        Vancouver West

$1.587 mil    West Vancouver

Median Price: A median  is the median price obtained by arranging a list from the lowest value to highest value and picking the middle one.  Is said to be less biased than the average price since it is not as heavily influenced by the small number of very highly priced homes.

Buying Kelowna real estate?  Selling Kelowna real estate?  I take the buying and selling process as seriously as you do.  Nothing other than the highest quality of service is delivered to each and every one of my Buyers and Sellers:  june@juneconway.com OR 250.317.3136 locally OR toll free direct 1.888.657.7123