As September unfolds, the real estate market in Central Okanagan presents a mixture of challenges and opportunities for potential homebuyers and sellers. This blog post delves into the latest market statistics from Central Okanagan, revealing trends in inventory levels, pricing, and the rental market that are reshaping local real estate dynamics.

Market Overview


In September 2024, Central Okanagan's real estate market saw significant activities with a rise in new listings and adjustments in sales and pricing. With 882 new listings, the market experienced a 12.5% increase from the previous year, signaling a more vibrant listing environment. However, units sold decreased to 317, marking a decline of 11.7%. The benchmark price for homes…

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Selling a house with a tenant

Selling a house with a tenant in British Columbia, Canada?

To ensure a smooth process and prevent issues with your tenants or the prospective buyer, it's crucial to understand your fundamental rights and legal responsibilities during the selling process.

This blog shows you what to do and what not to do if you're selling a tenanted property in BC.

Tenant Rights When a Landlord Sells a House in BC

Right to Remain

Tenants in British Columbia have the right to remain in the rental property and pay rent until the end of their lease term. Even after the property changes ownership, tenancy continues until the lease expires.

As a landlord selling your investment property, you must respect your tenants' right to continue paying rent and…

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Known for fresh-water lakes, stunning mountain landscapes, and vibrant communities, the Okanagan Valley is a wonderful place to call home in British Columbia.

Boasting hot summers, mild winters, and picturesque vineyards, it's no wonder that the Okanagan Valley is a sought-after destination for vacation-goers and those seeking a high quality of life.

From bustling urban centers with strong economies like Kelowna & Vernon to quaint lakeside towns like Peachland & Summerland, this blog shows you the 8 best places to live in the Okanagan Valley.


The waterfront promenade and Tugboat beach in Kelowna, BC

Kelowna

Kelowna, BC is a vibrant city nestled in the heart of the Okanagan Valley, boasting a population of over 160,000 residents. As the largest city in the Okanagan, Kelowna boasts strong…

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7 BEST NEIGHBORHOODS IN KELOWNA FOR FAMILIES | VANTAGE WEST REALTY

On the hunt for the perfect neighborhood to settle down and raise your kids in Kelowna, British Columbia, Canada?

This blog highlights the 7 best family-friendly neighbourhoods in Kelowna to call your home.

We’ve based our list of family-friendly neighborhoods in Kelowna, BC, Canada on the following criteria…

 

Our Criteria For the Best Family Neighbourhoods in Kelowna, BC:

  • Safety First: A safe environment is a top concern for Kelowna families. These desirable neighbourhoods feature lower crime rates, well-lit streets, and friendly neighbors who look out for each other.

  • Excellent Schools: Access to quality education is essential. These communities have…

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Looking to invest in rental property in Canada?

Canada has a thriving real estate market, but not all cities are created equal when it comes to investment potential.

In this article, we'll highlight the top 5 cities in Canada to buy rental property - including their main attractions for VRBO and Airbnb tenants - and why they're an excellent choice for investors seeking to capitalize on Canada’s booming property rental market.

 

Condo towers with property for sale in Kelowna, British Columbia, Canada

Kelowna, British Columbia

Kelowna is a city located in the Okanagan Valley of British Columbia, and it is consistently rated as one of the best places to live in Canada. With a growing population of over 142,000 people, fantastic weather, and a strong economy, Kelowna’s healthy rental market makes it an ideal…

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Here’s my theory on why our market has been so hot lately.

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Why, exactly, is our real estate market so crazy right now? By now, you’ve likely heard me mention there was some pent-up demand from the lockdown back in April, but that’s largely already come to pass. There’s something bigger fueling our market right now, and I believe it’s a full-on behavioral shift.

If you look back at the last 10 to 15 years, there’s been a trend away from so-called ‘McMansions’—giant homes that require lots of maintenance—toward downsizing and getting rid of unnecessary aspects. There was a sort of urban densification occurring, as people moved to city hot spots where they could walk to their favorite…

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The last thing a seller wants is to be left out of the loop, or feeling that they didn’t get as much money as they could have. Here’s how we at Vantage avoid these disappointments.

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Here are the top three reasons people report being disappointed with their last real estate agent:

The agent communicated poorly. Just as in every other aspect of business and life relationships, a failure to consistently and clearly communicate can be disruptive. For sellers, there’s nothing worse than being left in the dark; we’ve found that sellers need to be very connected to the process. Here’s how we accomplish that:

  1. Lightning-fast feedback — as soon as we know, we let you know
  2. Market updates —…

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There are three approaches to pricing a property. Learn what they are right here.

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There are ultimately three different strategies we can use to price a property to sell on the market. Whenever we meet with our sellers, we ask them to think about which one is most applicable to their situations.

First, we could underprice the property anywhere from 3% to 5% below the comparable homes that have sold in your area. This would help to sell your home quickly, and you’ll often get top dollar; lower asking prices typically generate multiple-offer situations. There are some risks involved in this strategy, however. If there isn’t a multiple-offer situation, you might end up selling your home for…

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Here’s what to know about the most popular and effective ways to come up with a down payment on your first home—or your dream home.

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Many folks have a misguided notion of what’s required of them for a down payment, so I’m going to share some options that exist for homebuyers.

The high ratio program does not change the requirement of down payment over 500 entirely, the down payment is stepped. Ie: 5% on the first 500k and 10% on the remainder.

Another option is the government's homebuyer plan, which allows you to tap into any Registered Retirement Savings Plan (RRSP) contributions you’ve made over the years—up to $35,000 tax-free. You’d then have the next 15 years to put that money…

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I’m discussing why selling your home in the winter can be a great idea, and waiting for the spring market may not be in your best interest.

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Many people think that the real estate market is dead in the wintertime. The spring and summer months are notoriously busier so people naturally think those are better times to sell their homes. In reality, that's a misconception about how the market truly works.

It has been statistically shown that some properties will sell for a higher price per square foot in January and February. There’s a definitive reason for that: The people who are shopping for homes during the winter are very motivated. These are people who need to move here, they have a…

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