3210 Broadview Road, West Kelowna

This 2360 sq ft updated home has 3 bedrooms and 3 bathrooms on almost 1 acre of privacy. Lake views and tons of parking for all your toys. Bright, open floor plan with easy suite potential. Backs on to ALR. Zoned RU4. There is development potential or perfect for your home based business. Half the garage is ideal for a home workshop. New Forced Air Furnace, ducts and air conditioning. New HWT, Windows, Kitchen & Bathroom Cabinets, Granite , Flooring, Light Fixtures & Paint. 

Please have buyers sign Covid 19 form for your file. Please wear gloves and masks and leave the lights on.

Just Hit the Market! $225,000.00

This corner unit is a 2 bedroom and 1 bath in a great location within walking distance to downtown. If you would like to live downtown here is your opportunity. It is also a great investment as a rental. This building allows rentals with no age restrictions. Any size dog allowed. Offers presented Thursday June 30th. Call or text Steve Higgins RE/MAX Kelowna to view 250-864-7893

BC's Market is Hot!

The British Columbia Real Estate Association is reporting that a record 13,458 residential unit sales were recorded by the MLS in May, up 32.3 per cent from the same month last year. Home sales last month have exceeded April's record of 12,969 units. Total sales dollar volume was $9.72 billion in May, up 51.1 per cent compared to the previous year.

The average MLS residential price in the province was up 14.2 per cent year-over-year, to $722,146. We have to take in account that Vancouver is driving this. Record housing demand and dwindling inventories are continuing to push home prices higher in most BC regions. With total active residential listings across the province are nearly 30 per cent lower than twelve months ago. New home construction activity is at a near record pace in the province. In the Metro Vancouver market, a record number of homes are now under construction. Once the current crop of homes are ready for occupancy there will likely be more selection for home buyers and less upward pressure on home prices.

Year-to-date, BC residential sales dollar volume has increased 62 per cent to $41 billion, when compared with the same period in 2015. Residential unit sales climbed by 35.2 per cent to 54,455 units, while the average MLS residential price was up 19 per cent to $752,105.00

Kelowna's Market.

So, how’s the market? This is the question I get asked more than any other! The quick answer is, it’s very BUSY or at least it has been for me. But this question actually has two answers and it depends whether you’re a buyer or a seller.

Sellers, of course, are ecstatic because when they make the decision to sell their home, it is not a 4 or 5-month process of home showings and waiting for that all elusive showing appointment or offer. Sellers are seeing an almost immediate response when they list their homes, especially if the price is below $650,000. Some are selling the first day on the market with multiple offers.

Buyers, on the other hand, are finding it a little more challenging to get the perfect home. With lower than normal inventory levels and higher demand for listings, buyers who aren’t working with a professional agent, that is full time and on top of the current market, don’t even get the opportunity to act on a property before it’s gone.

Here are some of the market highlights:

• Residential listing inventories are down - listing inventories decreased by just .5 % from May 2015 to May 2016 and by 2.44% year to-date compared to 2015.

• Residential sales are up - way up! - Sales increased by a whopping 42.73% from May 2015 compared to May 2016 and a 30.98%

increase year to-date over 2015.

• Average house prices are up! – the price of a single family home in May 2016 was up by 19.23% compared to $504,262 in May 2015.

• Residential properties are selling faster – the average number of days on the market has decreased to 53 days in May 2016 from 71 days in May 2015.

Buyer gridlock, a term that refers to a situation where sellers are hesitant to list their properties for sale because of a lack of inventory or affordable options to move to when their home sells. As a result, they are staying where they are and making it work and that’s limiting the number of entry level options for buyers who are trying to get into the market. We are starting to hear sellers voicing this concern in the Okanagan.

As this starts to become a reality, it will lower inventories further making it more difficult to find the perfect home. This has been an issue in Toronto and Vancouver markets for some time, but as sales continue to increase and inventories remain low in the Okanagan, we expect to see more of this creeping into our market.

If You want Lake Views then this is the Home for You!

Enjoy Beautiful Lake Views in this Walk out Rancher 4 Bed 3 Bath with Suite potential. This Open Concept Family Home has hardwood floors in great room & 2 beds on main. 2 Washers and 2 Dryers - up and down! Walkout lower level has two beds, 1 bathroom, kitchen, family room and potential for media room. Close to wineries. Sit on your deck and enjoy the stunning lake views while sipping a glass of wine! Call or text Steve Higgins RE/MAX Kelowna for viewing 250-864-7893

The Market is Wild!

The British Columbia Real Estate Association has reported that a record 12,560 residential unit sales were recorded by the MLS in March,that is up 38 per cent from March of last year. Home sales last month have eclipsed the previous record of 11,683 unit sales in May of 2007. Total sales dollar volume was $9.69 billion in March, up 66.9 per cent compared to the previous year.

The average MLS residential price in the province was up 20.2 per cent year-over-year, to $771,620. Housing demand has never been stronger in the province. Most large population centres of the province are now experiencing record levels of housing demand. This being true in Kelowna. With a strong employment growth, rising wages and a marked increase in net inter-provincial migration is fueling the consumer confidence. Supply imbalances are becoming increasingly common as new residential listings are not keeping pace with consumer demand. As a result, the inventory of homes for sale is at decade long lows in many regions.

The year-to-date, BC residential sales dollar volume has increased 70.1 per cent to $21.59 billion, when compared with the same period in 2015. Residential unit sales climbed by 39.2 per cent to 28,028 units, while the average MLS residential price was up 22.2 per cent to $770,408.

Great Townhouse in Dilworth Estates with a View!!

Enjoy Beautiful Lake Views in this Dilworth Homes Built Townhouse. Upgraded Hardwood floors, 4 large Bedrooms. Open Concept Living Room and Large Family Room down. Great deck with Awning and lower level patio. End unit with visitor parking right beside. Built in Speaker & Central Vacuum. Security System, Glass Railing on Deck, Any size dog is allowed. Call or text Steve Higgins RE/MAX Kelowna to view 250-864-7893.

Can't beat the Views!

Amazing Custom Home that checks all the boxes. 5 large Bedrooms & Den. 5 Bathrooms, Luxury throughout. Granite, Hardwood, High End SS Appliances. 2 Fireplaces, 2 Master Bedrooms. High end 1 bed suite with 2 decks. Media Room, Wine Cellar, Crown Moldings throughout. 3 Car Garage with Tandem for Shop or Toys. Patio with 2 sided Gas Fireplace and built in BBQ & Fridge. This House Has it all. Room for a pool too. Views of the Lake and UBCO on one side and the Airport on the other. 2 Championship Golf Courses Nearby. Walk to UBCO. New Shopping Coming to Area. Call Steve Higgins RE/MAX Kelowna to view 250-864-7893

Country Living almost in the City!

Solitude and Serenity is waiting for you along with a shop for your Hobbies. 4 Bedroom 3 bath, 2 Storey home with an unfinished basement ready to be customized. Great Location beside acreages and surrounded by mature trees. Room to park your RV and Boat. Beautiful yard. A Must see. Call or text Steve Higgins RE/MAX Kelowna 250-864-7893

Location, Location! Won't last long!

High End Luxury in a Awesome Location in walking distance to downtown Kelowna. 2 Bed/ 2 Bath Top Floor, Hardwood, Gas Fireplace. Quiet building.  1 Dog & 1 Cat are allowed. Very rare offering in this building. There are Rental restrictions. Waiting list. Convenient Parking Space, a 4x8 Storage Locker. Call Steve Higgins RE/MAX Kelowna 250-864-7893 for viewing.

Hot on the Market Today!

This Townhome is in Show Home Condition! Within walking distance to 3 schools and a park. Granite Counter tops, Hardwood, Tile, Vaulted Ceilings, Central Vacuum. Private Backyard. Beautiful Kitchen Open Concept. 4th bedroom or could be a Family Room. Feels like a home that would sell for hundreds of thousands of dollar's more! Family neighborhood. Pets are allowed 1 Dog 17" or smaller or 1 Cat. Stainless Steel Appliances have extended warranty. Must see! 1st time Buyers don't pay Transfer Tax. Call Steve Higgins RE/MAX Kelowna to view. 250-864-7893.

Another Great Investment or to Live In!

Great Investment Opportunity. 2 Beds, 2 Baths, 2 Parking stalls. Steps to 2 Great Golf Courses & UBCO. Granite countertops. Large balcony. BBQ, Rentals and pets allowed. Outdoor Pool, Hot tub, and exercise facility. Tenants willing to stay, lease up end of June they are renting for $1275/month. Or move in yourself this summer. Call Steve Higgins RE/MAX Kelowna to view. 250-864-7893

Screams Great Investment!!

Fully Furnished & Equipped 2 Bed + Den with 2 Parking Spots. Right beside 2 excellent golf courses and close to UBCO & Kelowna Airport. Great investment opportunity with tenant or you can move in and enjoy. Pets allowed. This is a Turnkey investment with tenant willing to stay, it is leased to the end of August. With Mountain, City and Valley Views.  Call Steve Higgins RE/MAX Kelowna 250-864-7893

2016 Off to a Good Start

The British Columbia Real Estate Association has reported that a total of 5,831 residential unit sales were recorded by MLS last month, that is up 33.2 per cent from January of last year. Total sales dollar volume was $4.39 billion in January, up 69.1 per cent compared to the previous year.

The average MLS residential price in the province of BC was up 26.9 per cent year-over-year, to $752,906. The BC housing market is continuing to build on momentum from a very strong 2015 with the majority of it coming from Vancouver. Heightened demand is being met with the lowest level of supply in a decade, resulting in increased pressure on prices in much of the province. 

The housing market has seen a roaring start to 2016, with housing demand supported by low mortgage rates and rising employment and wage growth in the province. However, MLS residential sales are forecast to edge lower this year. Total MLS sales last year were the third highest on record at 102,517. A record 106,310 residential unit sales were recorded in 2005, while the only other year passing 2016 was  2007 when 102,805 unit sales were recorded.

2016 First Quarter Housing Forecast Update

The British Columbia Real Estate Association has released 2016 First Quarter Housing Forecast Update the other day. The Multiple Listing Service residential sales in the province look like they may have a slight turn back 6.2 per cent to 96,100 units this year, after reaching 102,517 units in 2015. Strong consumer demand is expected to push MLS residential sales up by 2 per cent to 98,000 units in 2017.

Housing demand in the province is being supported by a relatively robust economy, leading to strong employment growth and rising wages. In addition, with net inter-provincial migration on an upswing as many Albertans look to BC for job opportunities. BC home sales are forecast to remain well above the ten-year average of 83,200 units over the next two years.

The inventory of homes for sale is now at its lowest level in almost a decade. Fewer homes for sale and strong consumer demand are expected to push home prices higher in most BC regions this year and in 2017. The average MLS residential price in the province is projected to increase 6.4 per cent to $677,200 this year and a further 4.1 per cent to $705,300 in 2017. All good news for those selling their homes!

New home construction activity is expected to remain at elevated levels corresponding to strong consumer demand and relatively low inventories, particularly on the South Coast.  Total housing starts in the province are forecast to remain close to an annual pace of 30,000 units through 2017, which will be the strongest two year performance since the 2007-2008 period.

Welcome to 3329 Gates Road, West Kelowna

If you are looking for a great family home in nice area, priced around the $400, than look no further. This renovated 4 bedroom, 2 bath home has a huge family room that is currently being used as a bedroom. Covered Carport and 2 Car Garage/Shop with Wood Stove is perfect for your hobbies & Toys. Lots of room for your dog to run in the fully fenced yard. Nothing needs to be done, just move in. Call Steve Higgins RE/MAX Kelowna 250-864-7893 for viewing.

The October Housing Market in Kelowna.

Election fever has finally passed and the winds of change have blown through, bringing with it a tide of ‘Trudeau-mania’. With the new Prime Minister and his cabinet now sworn in, only time will tell what this will mean for Canada. I have to admit that I’m happy to see the end of the political dog fight so Facebook will return to normal.
It’s finally starting to feel like fall in the Valley and there’s soon to be snow falling in the hills. We’ve had an incredible fall this year with great weather and buyers keeping local realtors busy. October was a busy month with there being 355 new listings for the month bringing Kelowna's active listings to 1,683 and 151 new listings for the month bringing West Kelowna's active listings to 886 in total. With the average days on the market for October at 62 in 2015 compared 69 for the same time in 2014.

Here are some of the highlights:
• Listing inventories are down - listing inventories dropped by just over 15% from September of 2014, from 761 to just 644 in September 2015.

• Sales are up - Sales increased by 9.4% in October, to 477 listings sold compared to 426 last year. The weather plays an important role in keeping the market active.

• Average house prices are unchanged – the price of a single family home in October was almost identical to the average sale price last October at $496,639 compared to $496,250. What’s interesting is the average sale price year to-date is $524,995 compared to first 10 months of 2014, up by 5.7%. This suggests that more higher value homes are selling.

• Houses are selling faster – the average number of days on the market has decreased by 3.25% compared to October of last year. There are plenty of well informed buyers waiting for well priced homes to come on the market.

• Lower inventories and eager buyers are pointing to continued strong market conditions as we head into winter. With 2016 expected to be one of the largest mortgage renewal years in terms of dollar values, the last Bank of Canada meeting will be welcome news to many.

Great Place to Live or as an Investment.

Awesome 2 Bedroom 2 bathroom. Corner Unit Condo. Gas Fireplace, Huge 20 x 11 Deck and 2nd Deck off Master. Super location. 1 dog or 1 Cat - 8kg. Large Master. Fast Possession Possible. Call or text Steve Higgins RE/MAX Kelowna for viewing appointment 250.864.7892

New Listing Priced at $757,900.00

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