Wednesday, 29 July 2015
Custom built home located on a quiet cul de sac in the gated community of the Highlands, West Kelowna. This private oasis offers 180 degree valley views, covered outdoor entertaining areas with fireplace and an in-ground saltwater pool. This 6 bedroom, 4 bathroom home includes travertine flooring and granite counter tops. Cosmetic, mechanical & plumbing repairs are required to bring this home back to it original grandeur. Double attached garage and plenty of additional parking. Priced at $757,900.00 Please call or text Steve Higgins @ 250-864-7893 for your personal tour of this investment opportunity. www.stevehigginsrealestate.com
Thursday, 16 July 2015
The British Columbia Real Estate Association has reported that a total of 11,294 residential unit sales were recorded by the Multiple Listing Service in June, up 25.6 per cent from the same month last year. Total sales dollar volume was $7.1 billion, a 42.6 per cent increase in comparison to the previous year. The average MLS residential price in the province rose to $631,962, a 13.5 per cent increase since last June. BC home sales posted the second strongest June on record.
With a growing provincial economy and record low borrowing rates continue to push demand higher, particularly in the lower mainland. While the consumer demand is surging, the supply of homes for sale is not kept pace. The resulting imbalance of supply and demand is puttinng upward pressure on prices in many areas of the province, most notably with respect to single-detached homes. With year-to-date, BC residential sales dollar volume increased 36.8 per cent to $32.6 billion, when compared with the same period in 2014. Residential unit sales climbed by 23.1 per cent to 51,559 units, while the average MLS residential price rose 11.2 per cent to $631,946. This being good news for the sellers, not so good for buyers.