Pat Rilkoff – April 2021 Real Estate Update

April 8, 2021

Pat’s April Real Estate update is now available which includes i) Okanagan Valley see double-digit percentage increases in single-family and town-homes, ii) NEW Listing – 7 bedrooms and 91.5 acres to roam and iii) Three NEW wine regions for Central Okanagan.

The benchmark price for homes during March 2021 in the Central Okanagan, North Okanagan and Shuswap/Revelstoke regions saw double-digit percentage increases in the single-family and townhomes categories, as reflected within the March 2021 summary statistics below.

The total number of active residential listings for March 2021 from Revelstoke to Peachland was down 46% and in the South Okanagan region overall listings dropped by 52%.

“Buyers are struggling to find homes and the lack of supply is putting upward pressure on pricing,” says the Association of Interior REALTORS® President Kim Heizmann.  “It is really important to work with a local REALTOR® who understands the market and that buyers are looking for homes for their families, not just a house to live in.”

As always, I’m here and available to discuss the market or your Real Estate needs at any time!

Just Listed – Opportunity Knocks!

Only 25 minutes from Vernon, 45 minutes from the Kelowna International Airport, and 2 km from the hidden gem of Lumby, this beautiful, extremely well cared for home and acreage provides plenty of room for a large family or potential for a multitude of revenue streams.
With 7 bedrooms and 91.5 acres to roam, there is plenty of room for a family to grow or use the space for a Bed & Breakfast, a rehabilitation home or a Senior Care Facility.  With a southern exposure, and a gently sloping hillside, this property boasts a fantastic view and the potential for various crops, including saffron.

If it’s privacy you seek, its all here along with the benefit of amenities in the village of Lumby only minutes away.

Click here for additional pictures and information.

If interested, contact me today – don’t let this valuable opportunity pass you by.

Three new Wine Regions for Central Okanagan

Formal applications to create three new sub-geographical indications, or appellations (a wine region defined by geo-political classifications) are currently before the British Columbia Wine Authority.
The three appellation applications are located within Lake Country, East Kelowna Slopes and South Kelowna Slopes.
There are currently four sub-geographical indications, or appellations, in the Okanagan valley, including the Golden Mile Bench, Okanagan Falls, Naramata Bench and Skaha Bench.

Click here to read more.