The Kelowna Real Estate Market showed a promising rebound and recovery for June 2020, compared to the 3-months prior that were affected by the COVID pandemic.
June 202 sales were back to previous years and in fact exceeded the sales volumes and pricing in 2019.
The single family residential market currently has about a 4-month supply of homes, as inventory starts to pick up. That means that every month Sellers have a 25% chance of selling, or a 75% chance of not selling.
Price and good value continue to be key factors for home buyers as market confidence starts to come back. We are cautiously optimistic that the housing market may bounce back sooner than forecast.
Read Full Market Stats and News Here: https://www.omreb.com/files/06-CO%20Statistics-June2020.pdf