Updates from Mark Coons
311 -3021 Louie Dr V4T3C1 West Kelowna, BC, Canada

Just hit the Market! Take the first look here. #kelowna #westkelowna #newlisting #kelownarealestate #kelownarealtor

Just Sold! Happy to have helped the sellers achieve their goal!

ATTENTION HOME BASED BUSINESSES INVESTORS AND DEVELOPERS! This property is located in a transitional neighborhood. An exciting investment opportunity in this full duplex located in prime Kelowna location offering great visibility and traffic flow all within walking distance to downtown business and shopping district. Property is perfect for home based businesses - bring your ideas! A great investment opportunity as future zoning is MRM.

Who is buying during the Pandemic? 58% of buyers in July from within the board in comparison to Q2 of 62%, comparing the numbers with July 2019 63% of buyers in that month were from within the board. Take a look at my recent blog.

Just hit the Market! Take a look at the link or give me a call/text for more information (250) 801-0361.

Health Checkup on Kelowna's condo market! Right now the single family market is on fire, as people are looking for space and downsizers are not quite ready to trade in the yard for the corner unit. Take a look at the overall health of the Condo market for the Central Okanagan https://www.markcoonsrealty.com//kelowna-s-condo-market-bu

Price Reduction

August was another big month. Lots of sales and a decrease in inventory, continuing to keep upward pressure on prices. 697 total residential sales in August Up from August 2019 of 472, 2,822 total listings down 15% from August 2019 of 3319 and July of 3027

How much do you need to make to be able to afford the average Home in Kelowna? Take a look at the video and my recent blog breaking it down. https://www.markcoonsrealty.com//income-requirements-to-bu... #kelowna #westkelowna #averagehomepriceinkelowna #affordabilty #buyingahouse #incometobuyahouse

Roughly 15%-16% of the buyers in 2020 were from the lower mainland, 8-8.5% were from Alberta, and 12% from other areas in Canada. The numbers for the Lower Mainland jumped to 18% of buyers in July and 11% from Alberta. Take a look at my blog to see the last 6 years and the underlying economic/Government conditions that may lead to the changes.

July was quite the month. Lot of action out there, sales were UP 39% from last year. There is still limited inventory out there down 10% from last year... See the full stats. https://www.markcoonsrealty.com//okanagan-real-estate-mark #kelowna #kelownarealtor #kelownarealestate #westkelowna #westkelownarealestate #realestate #market #realestatemarket #okanagan #okanaganrealestate #westkelownarealtor #marketupdate

With a lot of Government stimulus out there in the world, with the response to current happenings. There is upward pressure on inflation. This means your money(cash) today will not be valued the same in the future. This week I look at using Real Estate as a hedge against inflation.

It has been a different few months. Where does the market stand currently in comparison to years prior? Right now we are seeing reduced demand, this is keeping a competitive market. Take a look at my latest blog with where we stand. https://www.markcoonsrealty.com//is-it-a-buyers-or-sellers

Sales for June were up over 2019 and only 9 sales away from 2018 numbers. Take a look at the rest of the stats! Signup below for the weekly real estate market email!... https://mailchi.mp/12f593787f61/kelownarealestatemarket

Congratulations to the buyers of this home in Quail Ridge. Welcome to the Okanagan. This one didn’t come without some challenges. With a price point target being in the average price point there was a lot of competition and lack of inventory due to Covid19. When this home came up we knew it was well priced and would go quick. We ended up in up in multiple offers and lost out ... We looked at some more homes the following week that came on the market and they didn’t quite fit. Then a week later we got some good news for us the other buyers had backed out. We prepared our final and best offer. No negotiating. It was accepted. It wasn’t the perfect path we had hoped for or dreamt of. But it ended up working out and they got a great valued home for the neighbourhood.

West Kelowna NOW has its own media site........westkelownanow.com....... see what I did there!? #dadjokes

New Exclusive Waterfront Listing! 5170 Robinson Place Peachland, BC Just in time for summer!... I love how peaceful and calm it is out here, and the houseboat is included to enjoy those summer days on the water. Bathouse down at the flat beach also incudes a wood burning hot tub. This property is a must see.

This is the second week in a row we have seen over 140 sales. We have not seen this level of activity since December. There has been a total of 372 sales so far in June. Read more on my blog https://www.markcoonsrealty.com//the-first-time-since-dece

With Phase 3 starting up, it’s time to get out and enjoy more of the Okanagan activities.