Account Login/Registration

Access KelownaNow using your Facebook account, or by entering your information below.


Facebook


OR


Register

Privacy Policy

Kelowna home prices up 10% since last year: report

Houses in Kelowna are still rising in price according to a report released by Royal Lepage on Thursday.

The House Price Survey shows during the third quarter of 2016, the aggregate price of a home in the region rose 10.9 per cent year-over-year to $554,289.

<who> Photo Credit: KelownaNow.

The median price of a two-storey home saw a significant increase of 13.1 per cent year-over-year to $647,810 while bungalow prices rose 7.3 per cent to $504,943 over the same period. Meanwhile, the median price of a condo went up by 11.1 per cent to $339,321.

"Inventory levels across every housing category are down. Last quarter, the market was the best it has ever been – and this quarter continues to be extremely good for sellers in the under $1 million range," said Francis Braam of Royal LePage Kelowna. "In addition to our limited inventory, Kelowna has become increasingly attractive to buyers from Vancouver.

“Over the past year, the number of Vancouver buyers doubled.”

Nationally, Canada's residential real estate market continued to grow in the third quarter of 2016, posting a 12.0 per cent year-over-year aggregate house price increase to $545,414.



Support local journalism by clicking here to make a one-time contribution or by subscribing for a small monthly fee. We appreciate your consideration and any contribution you can provide.


Visit our Facebook page to comment on this story.

Sign up for local eNews delivered to your inbox by 7 am every day.

Send your comments, news tips, letter to the editor, photos and videos to news@kelownanow.com.

To report a typo, send an email to news@kelownanow.com.



Weather


Thu
11℃


Fri
10℃


Sat
10℃


Sun
8℃


Mon
9℃


Tue
9℃

Top Stories

Follow Us

Follow us on Instagram Follow us on Twitter Like us on Facebook Follow us on Linkedin Follow us on Youtube Listen on Soundcloud Follow Our RSS
Privacy Policy