The Kelowna Real Estate market has been sliding for several years while areas all over Canada have been booming. Now, as those other areas cool off, history would tell us it’s our turn to get moving! Historically this market runs at the same pace as Alberta, but a year behind. Last year Calgary and Edmonton were the #1 & 2 markets in Canada.
December real estate numbers were down, but our team saw a sharp rise in activity in our own practice. The January board numbers are not in yet but we have seen the higher demand continue. We have seven sales on the books this month already and there are still 11 days left. The majority of our sales over 500k are still generated from our out of town print and web advertising. Very few of our competitors advertise out of town, and none to the same extent as our team. So it may be we are getting a jump start on having a strong 2013 because of this investment. In the sub 500k sales range we are seeing a lot of younger buyers who can see the interest rates will not stay low forever. We are also noticing an increasing amount of our sales are generated by people looking for investment real estate because mortgage rates are still low and traditional investments are floundering.
Thanks to all our friends and clients that recommended us to their friends and family in 2012. We had a record setting year and have increased our advertising budget by 50% for 2013 in anticipation of another big year in 2013.