Kelowna housing market heats up

April 14, 2016 11:06 pm

the daily courier 2

Sure, there are fables of homes in Kelowna listed for sale for $500,000 that attract 26 showings over a single weekend and myriad offers resulting in them changing hands for $560,000.

“But that is still very much the exception, not the rule,” said Francis Braam, managing broker at Royal LePage Kelowna.

“We definitely have a sellers’ market in Kelowna. There’s less supply and more demand, and pricing is back to the peak it was at in 2008. But, it’s more likely a home will sell in 41 days for 98 per cent of the asking price after two or three offers come in.”

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