Living Kelowna Podcast: #1 Reasons to Sell Your Home This Winter

In this episode, Brandon sheds light on the shifting dynamics of the Central Okanagan real estate market, where home prices are experiencing a monthly decline of almost 3%. After a period of explosive growth, multiple offers, and overbidding, the market has transitioned, leading sellers to navigate a new reality. Brandon emphasizes the need for sellers to adapt to the current market conditions and challenges the conventional wisdom of waiting until spring to sell. As he explores the recent statistics and trends, he uncovers key insights that could potentially save sellers thousands of dollars.

Episode Highlights:

Market Shift: The Central Okanagan real estate market has seen a significant shift, with transactions dropping from over 900 a month to 300, signalling a considerable reduction in home sales.

Average Price Decline: Brandon highlights the recent trend of decreasing home prices, emphasizing the potential cost of waiting. He contrasts the average list prices and selling prices, revealing the financial impact of delayed selling.

Competition in Spring: Brandon advises against waiting until spring to list a home, pointing out the surge in competition during this season. He emphasizes that many homeowners list their properties in spring, resulting in increased competition and potentially lower selling prices.

Winter Selling Advantage: The episode suggests that selling during the winter months could be advantageous, as serious buyers are actively looking, and there's less competition. Brandon encourages sellers to take advantage of the engaged winter market.

Prompt Action: The episode concludes with a call to action, urging listeners to consider getting a current market value for their homes and a realistic sales price. Brandon provides contact information for those interested in a free home value report or seeking assistance in selling their homes.

Key Takeaways:

The real estate market in Central Okanagan is undergoing a significant transformation, with a notable decline in transactions and home prices.

Waiting until spring to sell may result in increased competition, potentially affecting the selling price of the home.
Selling during the winter could be advantageous, as serious buyers are actively looking, and there is less competition.

Brandon emphasizes the importance of adapting to current market conditions and provides practical steps for sellers to take immediate action.

Relevant Quotes:

• "It's not all doom and gloom just yet! But sellers in this market need help to adjust to the reality of the current market conditions."
• "Don't wait for all of the competition to show up before you decide to put your home on the market."
• "Buyers in the winter tend to be very engaged and serious. You will be much less likely to be inconvenienced by those nosy neighbours or buyers casually looking."

Listen to the Living in Kelowna Podcast with Brandon Grass on your favourite podcast platform.