July Market Update for Kelowna & Calgary

Last month I told you I would have some exciting news that I am only making known to my clients at this point.

Well, it is official now, as of last week I have officially joined RE/MAX Complete Realty in Calgary and the RE/MAX in Kelowna.

All of my contact information will remain the same, nothing changes there, the big change is being aligned with the #1 most trusted brand in real estate.

Ok, now that's over with, on to the rest of the email!

📊 Rate Hikes & What That Means for Markets

💰 Quick Calgary Update

🏡 Quick Kelowna Update

🔥 How are Forest Fires Impacting the Housing Market?

📧 Save my Contact Information


📊 It seems like every email I have sent you this year I have talked about rising rates, I really wish I didn't have to do that. It is time for the BoC to actually stop this madness and watch to see what (if any) affect there is on the marketplace. Many economists agree with this sentiment, so hopefully they listen to that advice. The BoC rate is now at 5% which is the highest it has been in over 20 years, typically we see a levelling off period with sales and a quick adjustment by buyers. We will see a lot of buyer's fulfill their rate holds in the next couple of months and that period of adjustment will happen, whether there is a positive bounce back remains to be seen.  Here's an article regarding a number of different local markets, click to see if yours is covered.

💰 Now that Stampede is officially over with record setting attendance, the craziness of the market will likely continue for the short term. There is always a bit of a slowdown in the market come end of August to about mid September, so if you are thinking of selling we should probably talk sooner than later. The month of June saw 1525 Single Family sales which was an increase of 3% from June of 2022. There are currently only 1323 single family listings on the market with 335 properties pending and 622 sales so far this month. Prices have increased steadily, for the first time in a very long time (think more than a decade) apartment and townhouse pricing is outpacing single family home prices. If you want more detail on these stats specific to your area, then email me back.

🏡 The overall benchmark price for single family homes is down 3.1% from last years numbers. Sales are up however for the month of June compared to last year, which is a good sign. However, that said, we are likely to see that same downturn in the market that Calgary is going to see. My prediciton at the beginning of the year was that the Kelowna market would balance out by this time in 2023, my revision is that balance will not likely come until closer to the end of the year. Sellers have to continue to have patience, while buyer's will continue to have their pick of the lot.

🔥 Given that we are seeing record numbers of forest fires in the country this year (I believe AB is down, but BC is up...don't quote me on that), I thought this article would be fairly relevant. Construction costs have skyrocketed and lack of supply due to a decrease in housing starts is what is fuelling new home price increases.

📧 Like I mentioned my contact info has not changed, if you are wanting to get a hold of me then reply to this email. If you are in Kelowna you can always reach me at, my BC number is 778-716-7527. My AB number is 403-827-7527. Make sure you save it in case you need it!

That's all I have for you this month! 

All the best,



New property listed in Lake Country

I have listed a new property at 15065 Highland Road in Lake Country. See details here

Well appointed 2400 sqft bungalow with breathtaking views of Wood and Kalmalka lake! This 3 bed, 2 bath home is situated on a spacious quarter-acre lot with tons of storage and a finished walkout basement. The property has been lovingly updated with new paint, baseboards, and kitchen countertops. It also boasts a oversized single attached garage and RV Parking for your boat or your motorhome/trailer. Enjoy the family-friendly location, steps away from the Okanagan rail trail and the Palmewash Parkway which is a beautiful road that runs along the eastern shore of Okanagan Lake, connecting Vernon and Kelowna. This scenic drive is a must-see for anyone visiting the area and is a popular destination for locals to enjoy on weekends or during the summer months. With an open concept living area, large windows, finished walkout basement with wood burning fireplace and ample natural light, this home is perfect for entertaining or relaxing with loved ones. Don't miss out on this incredible opportunity to own a slice of paradise in the Okanagan! (id:2493)


New property listed in Peachland

I have listed a new property at 23 4835 Paradise Valley Road in Peachland. See details here

Welcome to Paradise Valley Road and Camp Okanagan! This recreational lot is the perfect place to park your RV and get away from it all. Located just outside Peachland, you’ll be in the middle of nature while still being minutes away from West Kelowna and Peachland. This lot offers all the amenities you need to make your stay as comfortable as possible. Enjoy a heated outdoor pool, laundry facilities, and washrooms so you can freshen up after a long day of exploring. You’ll also have access to nearby Crown land, so you can take advantage of the beautiful scenery and get back in touch with nature. The area is incredibly peaceful and quiet, and the community is incredibly friendly and welcoming. From the moment you arrive, you’ll feel right at home. You can join in on the fun and get to know your neighbours or just relax and enjoy the peace and quiet. This is a great opportunity for home buyers, home sellers, and real estate investors. Whether you’re looking to escape the hustle and bustle of the city or you’re looking for a place to park your RV, this is the perfect spot. With its close proximity to Peachland and West Kelowna and its stunning surroundings, you’ll never be bored. Don’t miss out on this incredible opportunity! Come and see for yourself why Camp Okanagan is the perfect place to park your RV. Contact us now to schedule a showing and start living your dream. (id:2493)


New property listed in Penticton

I have listed a new property at 600 WADE Avenue in Penticton. See details here

Welcome to 600 Wade Avenue West in beautiful Penticton! This investment property offers an incredible opportunity with its C2 zoning, allowing for both residential and commercial use. Situated on a corner lot, this property boasts immense development potential, thanks to its prime location near schools and the bustling main street. The main residence features a spacious layout with three bedrooms and two bathrooms, providing ample space for comfortable living. The well-maintained interior showcases a welcoming ambiance, offering an ideal canvas for customization and personalization. Additionally, a detached garage provides convenient parking and storage options, ensuring both functionality and convenience. The corner lot offers versatility and accessibility, making it an ideal choice for various business ventures or further expansion. With its prime location and C2 zoning, this property presents a unique opportunity for investors and entrepreneurs alike. Whether you envision a mixed-use development, a residential rental property, or a commercial venture, the possibilities are endless. Don't miss out on this incredible chance to own a property with significant development potential in the heart of Penticton. Schedule your showing today and explore the endless possibilities that await at 600 Wade Avenue West! (id:2493)

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