Thursday, October 26, 2006

Kelowna Real Estate

Some national recognition of the stupidity of the housing market where we live: Kelowna house prices move ahead of Calgary, Toronto. In Canada, only Vancouver remains more ridiculous.


Albertarocks said...

Jeremy, I was surprised to see that, too. But on the other hand dude, you have to realize that you live in one of the finest places on earth. Summerland is a dream place. Climate, lakes, beauty of scenery. It doesn't get any better than where you life. So don't be so surprised that Kelowna and area are indeed a fantastic destination, only now really being discovered by people other than western Canadians.

Yes, I was surprised that Kelowna surpassed Vancouver as the most expensive place to purchase a single family home. But then... I'm not really surprised at all. Expect prices to continue to rise where you live. Everyone who has ever been to Summerland envies you.

Jeremy said...

Kelowna hasn't surpassed Vancouver for real estate stupidity yet...and likely never will, unless a rise in sea level makes Chilliwack oceanfront property.

And the numbers for Kelowna are a little bit deceptive because there are so many lakefront and lakeview monster homes that skew average values -- I know there are nice neighbourhoods in Calgary, too, but perhaps there's less variation between the highs and lows there?

I think it's true that more people have discovered the Okanagan in recent years, and that will continue to drive up prices. That said, not everyone who's been to Summerland envies us -- city folk often find smaller towns like ours too sleepy and dull to hold their interest.