There is a hint of panic in the air, no it’s not that there has been a few ear splitting thunderstorms of late but a very different kind of dark sky brewing. The Kelowna real estate market is slowing down. For some it was an inevitability, for others I guess they were too busy counting the cash, I mean working so hard! We’ve heard from some developers that the current rate of sales of units per month is the equivalent of 3 years worth of properties waiting to be sold. Good news for buyers and speculators as they now have an abundance of choice, not so good for sellers, especially if you are in a hurry.
The slow down may be a good thing, quality houses and developments will always sell make no mistake, but there seemed to be too many properties being hurriedly thrown up and ill conceived developments getting the green light that will now hopefully remain on the developers drawing board..
The Kelowna Real Estate Market won’t go down without a fight though, it still remains one of the most desirable locations in Canada to live, bring up a family or retire, just so long as you have deep pockets.
