Slight decreases in prices and homes spending more time up for sale means the local real estate market is balanced but closer to being in the buyers’ favour.
That’s according to the most recent analysis from The Krieg Family, which is part of the Re/Max Kelowna team.
Single-family home sales in Kelowna are down slightly from this time last year, and higher-priced homes are continuing to slip even more. As a result, The Krieg Family believes the city’s real estate scene is still teetering between a buyers’ and balanced market based on the percentage of listings that sell.
Townhomes represent nearly 20 per cent of the inventory that is selling, but listings and sales are both climbing.
There are more apartments and condominiums available, which means sales are in decline.
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