Got a GREAT deal for a client in the Upper Mission area of Kelowna over the weekend. Over 250 homes are currently for sale in the area and if you can take your time, eventually someone will bite at a low offer.
We've been seeing quite a number of price reductions which is confusing to some people. Are the prices still coming down?
I believe that there have been enough consistent sales now to indicate that the market has bottomed out for the most part. There are of course, still some VERY financially motivated people who may take less than fair market value, but those sellers are getting picked over. Instead, the price reductions that are coming through are those who were slow to the market change and are just now reducing their prices to where they should have been 5 months ago.
If you're thinking about it... do it! It's a pretty amazing time right now to be a
buyer in the Kelowna real estate market!
Talk to you soon...
Paige
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