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KELOWNA HOUSING FRENZY! Buyers Fear Being Priced Out!

446 views · Published 29 April 2017 · 6:37 · Indexed 30 October 2026

Channel: Mike Martins · 2017 · People & Blogs

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"people are jumping the gun here trigger-happy and small towns are being gobbled up"

— Mike Martins

KELOWNA HOUSING FRENZY! Buyers Fear Being Priced Out!

Is Vancouver's housing madness spreading across British Columbia?

An Okanagan Edge report reveals that a new Kelowna townhouse development sold 32 of its first 36 homes in just ONE DAY!

The Drysdale Row development in Kelowna's Glenmore neighbourhood is attracting buyers who fear they may never afford a home if they wait any longer.

Townhomes that reportedly cost approximately $300,000 just two years ago are now selling around $450,000!

That's a massive increase in a very short period.

But are buyers making smart financial decisions, or are they being driven by fear?

I'm seeing similar changes here in Merritt, British Columbia, where I've met numerous people who have relocated from Vancouver.

I purchased my home in December 2016 for approximately $260,000, and my latest property assessment values it around $340,000!

Are smaller communities being pulled into the same housing bubble that has already transformed Vancouver?

We discuss low mortgage rates, housing shortages, migration from expensive cities, rising assessments, and the dangers of trying to time the real estate market.

Should families buy now before prices rise further, or could rushing into the market become a costly mistake?

Comment below! Are you seeing Vancouver buyers moving into your community?

— Mike Martins | Mike Martins Channel | April 2017

#kelownahousing  #kelownarealestate  #housingbubble  #housingcrisis  #merritt  #2017  #canadianrealestate  #exodus  #housingaffordability  #mikemartins

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