New short-term rental restrictions have undoubtedly impacted real estate in Kelowna. With the initial legislation now in effect, property owners will be required to comply with the government’s regulations. For some, this might mean attaining a business license. For others, it could mean finding a new way to boost property value. Regardless of what course of action you choose to take, we have outlined some tips on how to proceed given the new STR legislation. In this article, we will go over some of the different ways that STR property owners are making do under the new rules.  How to Nav ..read more

New short-term rental (STR) legislation that was proposed in 2023, is finally about to take effect come May 1. The proposed changes were intended to provide stricter enforcement tools for local governments, new requirements for STRs, and new regulatory authorities to oversee operations. However, following pushback from numerous British Columbia residents, the government has made amendments to its rules. If you are the owner/operator of an STR, it’s important to stay in the loop about the changing legislation. To help you get a better grasp on how new exemptions will affect your property, we ha ..read more

After exiting the pandemic, Canada’s housing market boomed. With borrowing rates at all-time lows, many buyers had more power than in previous years. This allowed several Canadians to acquire homes that they wouldn’t normally be able to afford. As a result, numerous buyers capitalized on the below-average rates. Fast forward to the present-day market, and interest rates are now at the highest they’ve been in 16 years. For those post-pandemic buyers, their once-affordable properties are starting to feel out of reach. As many homeowners are coming up on the end of their mortgage term, it’s impor ..read more

Kelowna’s real estate landscape finds itself at a crossroads, shaped by immigration, short-term rental restrictions, and pressing affordability concerns. The city’s robust population growth, becoming the fastest-growing Census Metropolitan Area (CMA) in Canada, has intensified the demand for housing. With a 14% increase from 2016 to 2021, reaching 222,162 residents, Kelowna is witnessing an unprecedented surge in demand for both rental and owned properties. The driving force behind Kelowna’s population boom The influx of international migrants, driven by higher federal immigration targets, has ..read more

2024 is finally here! If you are looking to buy or sell houses for sale Kelowna BC, you’re in the right place. Homes in this region of the Okanagan are undergoing significant changes as a result of changes in provincial and municipal legislation and new market dynamics. The end of 2023 was left on an uncertain note with housing sales down and interest rates high. Investors in the region were also hit with new legislation surrounding short-term rentals like those supported on Airbnb and Vrbo. In this article, we will be providing a comprehensive market overview that outlines some of the key ele ..read more

In Central Okanagan, the residential real estate market experienced a notable slowdown in December 2023 due to persistently high-interest rates, according to the Association of Interior REALTORS®. The area recorded 528 residential unit sales, marking a 12.4% decrease from December 2022 and a substantial decline from the previous month’s 813 units sold. Despite this, there was a healthy uptick in new residential listings, showing a 16.7% increase compared to December 2022, with 859 new listings in the region. Active listings also rose by 24.3% year-over-year, reaching 5,889 across the Associat ..read more

December is finally here! As 2023 comes to an end, we’d like to thank everyone who took time out of their day to engage with our blog. This year’s content included everything from neighborhood-specific articles to valuable buying and selling tips. In keeping with our annual tradition, we are going to be dedicating this month’s blog post to a recap of the articles written in 2023. This way, you can catch up on any missed content! Alternatively, you can re-read old posts in anticipation of achieving your real estate goals early on in 2024. Either way, we encourage you to check out the recap of o ..read more

The real estate landscape in British Columbia is experiencing a notable deceleration, with various factors contributing to this slowdown. High interest rates, coupled with looming recession fears and economic uncertainties, have led to a substantial backlog of potential buyers waiting for market adjustments. Despite sluggish sales and a rise in available options, the price of a single-family home in Kelowna has shown a slight increase, maintaining a steady trajectory. This data underscores the critical importance of accurately pricing your home for sale in Kelowna, particularly in the current ..read more

Winter is on its way! With this new season rapidly approaching, it’s time to make sure that your home is ready for the cooler temperatures. Ice and snow can cause many problems for your home if you aren’t prepared! To avoid damage, it’s best to take control of the situation now. From cleaning your gutters to making sure that your heat works, there’s a lot to do before winter arrives. To help you out, we will be going over six tasks that are worth adding to your winter prep list. Follow along below to learn more about preparing Kelowna houses for sale for winter! How to get Houses for Sale in K ..read more

Real estate activity across the province of British Columbia continues to slow. High-interest rates, a looming recession, and economic uncertainty are all factors contributing to a long lineup of potential buyers who are patiently waiting to see market corrections. Prices remain steady and the cost of a single-family home in Kelowna rose slightly despite slower sales activity and an increase in selection. This data suggests that appropriately pricing your home for sale in Kelowna has never been more important than now. Hilbert & Crick Real Estate Group can help you price your home and conn ..read more