RE/MAX released it’s 2018 Housing Market Outlook Report on Thursday, which summarizes 2017 national prices and sales activity and provides a 2018 forecast for 32 regions in Canada, including Kelowna.
In 2017, the average residential sale price in Kelowna was $530,788, an increase of nine per cent from the previous year.
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READ MORE: Sales slump but not prices as Okanagan real estate market slows
The report predicts the average residential sale price to increase another five per cent in 2018.
Private high-rise and land development projects are expected to contribute to increased inventory levels in the next few years.
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