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Today I'm going to provide you with a quick real estate market update for the Kelowna area. Afterwards, We'll discuss whether open houses really help to sell homes.
First, here are some statistics from our local market:
- We've had 1,108 sales in the first quarter of 2015, compared to only 898 sales at this time last year
- Our average sale price rose by $4,000 this year to reach $416,000
- Home sales of properties over $1 million have been sluggish, but we do expect that market to pick up as we enter the busy season
Now, about open houses....do they work?
We get this question a lot, and the truth is that open houses don't always work for every property. There are different ways to sell each home, and every Realtor will have a different strategy to sell. I wouldn't recommend pushing for one if your real estate agent doesn't recommend it. If a home is highly sought-after, it may be a good idea, but sometimes these events can fall flat.
One last thing is that I'm currently at a beautiful listing we have at 2988 Valentino in Quail Ridge. It's a Rancher that's just under 3,000 sq. ft. There is a stunning view from the back deck, and it's also right near two golf courses and the university.
As always, if you have any questions please don't hesitate to contact me. I'm always here to help!
