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Real Estate Market

Continued Organic Growth for the Okanagan

May 31, 2022

The Central Okanagan reached a benchmark price above $1 million in December 2021. It was the fastest growing metropolitan area in Canada during the 2016-21 census period and shows no signs of slowing. Rapidly growing Kelowna is experiencing organic growth due to the demand from both young people and retirees.

Prices throughout the Central Okanagan have see a large jump in year-on-year prices. The benchmark price for a single-family home in March 2022 rose 34 per cent to $1,129,000 – up from $829,000 in March 2021. The benchmark price for townhouses rose from $541,900 to $758,100. The South and North Okanagan are experiencing similar increases.

Click HERE for the full article from Global News.

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