10/10/2022
Market Update For October 2022
Condos and townhome prices seem to be holding steady. We saw single family homes decrease a bit more on the Kelowna side as opposed to West Kelowna (we saw the opposite effect last month)
With increasing interest rates we are seeing single family home prices drop, while those buyers are pushed more towards condos and townhomes. Condo prices are closing the gap on towhomes and some condo owners may soon find themselves trading up to townhomes, which are a similar price point but often come with yard space and a lower strata fee.
* data sourced from the MLS - Association of Interior REALTORS