West Kelowna & Kelowna house market update

If you're a newcomer to the Kelowna area it is quite easy to assume that all the housing (single family residential) you see on either side of William R. Bennett Bridge is Kelowna.  Actually.....the east side of the bridge or Okanagan Lake is the City of Kelowna with a population of more than 106,000 whereas the west side of bridge is the District of West Kelowna with a population of 28,793.

In terms of housing markets West Kelowna represents approximately a third of the Kelowna area house sale activity.  Year-to-date [Jan to Jul] West Kelowna has had approx 28% of the house sales or in real numbers 293 in comparison to Kelowna's 745.  Ytd West Kelowna's median house sale price is $425,000 whereas Kelowna is $441,672.  The median house sale price has weakened in both areas from last year ytd ~ down -1.6% and -3.98% respectively.

In addition house sale activity has decreased a smitchen ytd in both Kelowna areas compared to 2010: West Kelowna is down -9.56% and Kelowna -8.13%.

Both West Kelowna and Kelowna have their own strong selection of service, professional and shopping amenities.  The question is, what side of the bridge do you want to be on?  Personal preference or work or both pulls you to either West Kelowna or Kelowna.

At this time West Kelowna has 603 active MLS house listings (and Kelowna 1,183).  What is available at this time In West Kelowna in each price range follows (with Kelowna in brackets):

1 (0) - <$100,000 range

2 (6) - $100,000's

29 (58) - $200,000's

128 (162) - $300,000's

121 (190) - $400,000's

99 (179) - $500,000's

34 (116) - $600,000's

24 (95) - $700,000's

10 (47) - $800,000's

9 (39) - $900,000's

96  (219)- > $1mil

If you'd like to compare graphically Kelowna ytd single family residential sale activity, average and median price....click here.   As well, to put the two locations into perspective if you are a newcomer and considering the Kelowna area have a look at this map.....click here.

Superlative time to buy a Kelowna area home!

(Source of data from Okanagan Mainline Real Estate Board and prepared by writer ~ accuracy not quaranteed)