It’s official! May 2019 was the first month to see stronger year-over-year sales after 15 months of slower sales. With 509 sales compared to 504 last year, we’re up 1%! May is also up 20% over April. The Kelowna and Central Okanagan Valley real estate market is continuing to prove this place is pin on the map that people want to call home. Overall the market shows to be relatively balanced, however, if you look closely you’ll see that in reality there are two divergent sub-markets; one is a buyer’s market and the other a seller’s market.
Last month I talked about Spring’s arrival; April couldn’t have followed suit any better when it comes to the Kelowna and Central Okanagan Valley real estate market. Where last spring we saw a shift from a seller’s market to a balanced market (and eventually a buyer’s market in the fall and winter), this year we are seeing a shift from a buyer’s market back to a seller’s market.