March Market was Marching Right Along!

By
Real Estate Sales Representative with RE/MAX Kelowna

Well, what a week and month it has been. It feels like we are starting April off just like last year with restaurant dine-in stopping for a while,but I do not want to go down that path with this email so let’s look at the positives of the past year. One of the main things that I have noticed is the amount of time families are spending together.We see it in our neighborhood every day. Families out for a bike ride, a walk or skating on Green Bay when it froze over this winter. It’s nice to see kids having some quality time with their parents. With the changes to the restaurant business this week hopefully everyone can help those businesses survive by doing a few more takeout dinners over the next 3 to 4 weeks. We all want those businesses to be open again. 


What has the real estate market been up to over the last 31 days? The market is continuing to be fueled by people moving to our community and first-time buyers entering the market. Every sector of our real estate market is up again this month except for days-on-market which are down by 47% to 33 days on average. The average price of a single-family home has increased to $967,452 this is a 34.74% increase from just a year ago. One of the most amazing stats to me is the number of homes priced over a million dollars selling this year compared to last March. We had 232 homes over a million dollars sell this month compared to 42 just a year ago.This is part of the reason that the average house price has increased as much as it has. 

Looking to buy or sell please give me a call.


Hope you all had a great Easter Weekend.

Comments (11)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Steve - it seems as if the real estate market in your area continues to be good by accentuating the positive you're sending out a constructive message.  

Apr 09, 2021 05:12 AM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Michael, 

Thank you for your comment. Yes March was a crazy month most homes were multiple offers, going thousands ++++++ over asking. We have never seen a market like this.

Apr 10, 2021 10:09 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Every market seems to be a brisk one, especially when it comes to buyers finding and securing a home without going into multiple offers. You are definitely the agent to call in your area to achieve client goals Steve!

Apr 28, 2021 02:35 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Steve, I have been saying this now for four months the world is falling apart but Real Estate is on fire, what does that tell you? Things will be fine soon:)Endre

May 04, 2021 10:14 PM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Wanda Kubat-Nerdin - Wanda Can! 

Thank you for your comment and kind words. Sorry for the late reply. I didn't receive a notice that there was a comment on my post. 

May 05, 2021 06:14 PM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Endre Barath, Jr. 

Thank you for your comment. You are so right real estate is on fire it is crazy here. Yes I too believe soon the we will be on the right track to become normal again. I hope all is well with you and your family. 

May 05, 2021 06:20 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Steve I am starting to see things change.... since June 15th when it was officially declared that Covid was over in California... people are starting to list more homes which will lead to a balanced market...Endre

Jun 24, 2021 11:01 PM
Roy Kelley
Retired - Gaithersburg, MD

I was looking for your current posts.

Enjoy the holidays and have an outstanding 2022!

Dec 30, 2021 09:15 AM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Roy Kelley I have retired as of Nov 6th and before that I was crazy busy. I haven't had time to post. Thank you for your comment and all the best to you and the Chef in 2022!

 

Dec 30, 2021 03:49 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

We are seeing a major shift in our market so, if you ever thought of moving to Charlotte, NC for your retirement, now is a good time, Steve!!

Seriously what a shift from Easter to Independence Day *US. I know you're thrilled to be enjoying retirement during another market shift.

Jul 03, 2022 03:01 PM
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Debe Maxwell, CRS ,

Thank you for your comment. We own a home in California and 2 in Canada, I don't think I could talk Tracy into a fourth! haha I do love the east coast spent many years in Florida as my father and stepmother lived in St. Augustine. Many golf trips to the Carolina's.

Yes, I am enjoying retirement when Tracy doesn't have a to do list for me a mile long! lol

We have slowed down here once June hit however our prices haven't really gone down, for a while there they were totally out of control. I don't know how some young people can afford million dollar homes it's going to be interesting to see what will happen if mortgages start going up a lot.  

Jul 05, 2022 06:30 PM