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Indicators Mixed as Residential Real Estate Market Heads into Spring

Posted on Apr 03, 2019 in Market Statistics

Residential sales across the Revelstoke to Peachland region rose to 545

in March, up from February’s 407 yet 13% fewer than March of last year reports the Okanagan Mainline

Real Estate Board (OMREB).

While Mother Nature is taking her time with the outward signs of spring, the market is rising to the

occasion with more activity. In line with a typical s...

Site Secured for Rose Valley Water Treatment Plant

Posted on Mar 27, 2019 in City Developments

The City of West Kelowna has purchased a 24-acre portion of 2010 Bartley Road, at a cost of $915,000, which will be the site of the greatly-anticipated Rose Valley Water Treatment Plant.

The City made the purchase to secure land to begin building the new plant, which will serve 12,000 people living within the Lakeview Water System, and a further 6,0...

Residential Market Runs True to Form for Time of Year

Posted on Mar 04, 2019 in Market Statistics

Residential sales for the region of Revelstoke to Peachland rose to 407 in February, up from January’s 310 and December’s 324, yet 19% fewer than this time last year reports the Okanagan Mainline Real Estate Board (OMREB).

“Despite a cold snowy February, the market behaved true to form for the time of year, picking up from the last couple of months...

January’s Residential Market Highlighted by Spike in New Listings

Posted on Feb 04, 2019 in Market Statistics

Residential sales in January totaled 310 across the region of Revelstoke to Peachland, 4% fewer than December and a 31% decrease from this time last year.

“Residential housing demand continues to moderate, despite strong economic indicators, suggesting that government intervention is continuing to have an impact,” says OMREB President Marv Beer.

“Buy...

How to Apply for the BC Speculation & Vacancy Tax Exemption

Posted on Jan 20, 2019 in Homeowner Tips

What is the BC Speculation & Vacancy Tax?

The BC Speculation & Vacancy Tax was implemented by the Provencal Government to help tackle the hot housing markets in major urban centres (see list below). The new annual tax, which targets foreign and domestic speculators who own property in BC but do not pay taxes here, will raise revenue for affordable h...

December’s Residential Market Poses No Surprises

Posted on Jan 04, 2019 in Market Statistics

Residential sales posted to the Multiple Listing Service (MLS®) for the Peachland to Revelstoke region declined to 324 in December, a 29% decrease from both the previous month and this time last year.

“No surprise, the market is doing what it tends to do this time of year with all indicators pointing to a generalized slow-down,” says OMREB President...

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