OCTOBER NEWSLETTER ~ Written by Peter Kirk, Managing Broker, RE/MAX Kelowna

Fall has arrived! This is a busy time of the year for real estate news and for preparing your home for the seasonal changes ahead. We are here to help! Most of us know we need to do things in the Fall to help our homes and properties “weather” the coming colder seasons. Climbing ladders, sweeping, cleaning and other things may not be our favorite things to do but getting to them early will save you frustration and dollars, in the long run. Things like weeding, pruning and raking come to mind. Blowing our irrigations systems, disconnecting outdoor garden hoses, cleaning gutters and tuning up the furnace are some of the other things to do. Checklists are always a good idea, and we recommend you Google ‘Fall Home Tips’ to access some great checklists and ideas for your home. Also, this isn’t just for house/ homeowners. There are also great lists for condo owners too! Google ‘Fall condo home tips’ for condo checklists. In the world of real estate in the Okanagan Valley, we saw a change in September. While YTD sales are still far ahead of 2020 by 52%, September’s sales dropped by 27% compared to last September. Why you ask? One belief is that after 18 months of everincreasing sales, sellers may be getting ‘cold feet’ . Some are reluctant to list because they may not find a replacement. Is this your feeling? Out-of-town buyers continue to snap up homes, but the frequency of mass offers is greatly diminished though not altogether finished. Well priced homes still sell quickly but we are seeing some price reductions on those pushing prices just a little too much. Average and median prices remain up by 23% to 25% year over year, but we may see a bit of leveling on these increases with fewer homes selling in the months ahead. We have referred to our cloudy crystal ball a few times in past newsletters and predicting the future of the real estate market remains a challenge. Our general feeling is things will continue to moderate over the Fall and Winter months but weather, the pandemic and politics will all likely play a big role in how quickly things pick up in the Spring. Ever the optimists, we feel a less frantic winter might be a good thing with a reset to a more balanced Spring market. We’ll just have to wait and see! In the meantime, if you have any immediate questions or want to make plans for the months ahead, your experienced, full-time professional RE/MAX Kelowna agent is always there to help. Call anytime! Happy Thanksgiving next weekend and Happy Halloween coming up! - Peter Kirk Owner / Managing Broker