Hello,

We recently hosted an incredible luncheon featuring Geoff Ritchie from Kelowna International Airport (YLW) and Krista Mallory from the Central Okanagan Economic Development Commission — and we wanted to share a few key takeaways that highlight why the Central Okanagan is one of Canada’s most exciting regions right now.

 Central Okanagan at a Glance

• Population (2024 est.): 251,723 — up 2% in just one year
• Growth since last Census: 14% — among the fastest in Canada
• Households: Over 94,000 and growing
• Median Income: $85,000
• Median Home Value: $750,000

It’s clear people aren’t just visiting the Okanagan — they’re choosing to stay, invest, and build their futures here.

 Big News from Kelowna International Airport (YLW)

YLW isn’t just growing — it’s transforming into a modern, world-class travel hub. Here’s what’s in store:

• Kelowna’s first 5-star hotel is coming — a major lifestyle and tourism boost, with Sutton Place built directly at the airport terminal
• Modern parkade to improve passenger convenience
• Projected passenger growth: increasing from 1.6 million to 3.5 million by 2045
• Expanded terminal spaces — including enhanced pre-board screening, arrivals area, customs, and lounge spaces — already underway
• On-site daycare: Kelowna Airport’s state-of-the-art daycare is also undergoing a major expansion

These investments support not only convenience but job creation, business growth, and increased tourism.

 What’s Fueling This Momentum?

 Lifestyle Meets Opportunity
World-class wineries, lake views, ski hills, and sunshine meet innovation and career potential.

 Innovation & Investment
The Okanagan’s clean tech, aerospace, and agri-tech sectors continue to grow — with over $13 billion in exports in 2022 alone.

 Smart Development
Increased housing density, infrastructure planning, and sustainable design are paving the way for thoughtful, long-term growth.

 Education & Talent
With institutions like UBC Okanagan and Okanagan College leading the way, more young families and professionals are choosing to settle here for the long haul.

Whether you’re buying, selling, or investing, the Okanagan continues to offer strong lifestyle and financial returns in one of Canada’s most desirable regions.

If you have any questions we can help answer or would like an updated opinion of value for your property - please let us know we are always happy to help.

Kind regards,
Shannon & Tamara

We’re thrilled to announce the sale of 4323 Finch Road in beautiful Lake Country!

This unique property offered a rare combination of privacy, space, and potential in one of the Okanagan’s most scenic and sought-after communities. Set on a quiet no-thru road surrounded by mature trees and mountain views, this home provided an ideal backdrop for those seeking a peaceful lifestyle just minutes from amenities.

The home itself featured a functional layout with room to grow—perfect for families or those looking to personalize and make it their own. Outside, the generous lot offered endless opportunity: space for a shop, a pool, or simply to enjoy the natural surroundings. It’s no surprise that this property attracted strong interest in today’s market.

Lake Country continues to be a hot spot for buyers—with its blend of lakeside access, wineries, trails, and family-friendly neighbourhoods, it’s easy to see why. Properties like this one, offering land and long-term value, are becoming harder to find.

Congratulations to our sellers and the new homeowners who will no doubt enjoy everything this special property—and community—has to offer.

Selecting the right realtor is a crucial step in your real estate journey. Whether you're buying your first home, selling a property, or investing in real estate, having the right professional by your side can make all the difference. To help you make an informed decision, we've compiled a list of key questions to ask when interviewing potential realtors.

Experience and Track Record

• How long have you been a realtor, and how many transactions do you complete annually? Understanding a realtor’s experience gives you an idea of their knowledge and expertise. A seasoned realtor may be better equipped to handle challenges and guide you smoothly through the process.
• Are you experienced with properties in my area or price range? Local expertise matters. A realtor who knows the nuances of your neighbourhood or market segment can provide valuable insights.
• Can you provide references from past clients? Hearing directly from others about their experiences can give you confidence in your decision.

Market Knowledge

• How well do you know the local real estate market and neighbourhood trends? A realtor with a finger on the pulse of the local market can help you set realistic expectations and identify opportunities.
• What are the current market conditions, and how would they impact my goals? This question helps you gauge whether the realtor can adapt their strategy based on whether it’s a buyer’s market, seller’s market, or a balanced market.

Marketing Strategy

• How will you market my home to potential buyers? A proactive marketing plan is critical for sellers. Look for a realtor who uses a mix of traditional and modern techniques.
• What platforms do you use for online listings and advertisements? From MLS to social media, online exposure is vital in today’s real estate landscape.
• Do you use professional photography, virtual tours, or staging services? These tools can significantly enhance a property’s appeal and attract more buyers.

Negotiation Skills

• How do you approach negotiations to ensure the best price and terms for me? Negotiation skills can directly impact your bottom line. A confident, strategic negotiator is an asset.
• Can you share an example of a challenging negotiation you handled successfully? Hearing specific examples can help you assess their expertise in handling complex scenarios.

Communication and Availability

• How often can I expect updates, and how will you keep me informed? Consistent and transparent communication ensures you’re always in the loop.
• Are you accessible via phone, email, or text? What are your response times? Prompt responses can make or break time-sensitive deals, so it’s essential to know their availability.

Support and Experts

• Do you work alone, or do you have an expert to assist with various aspects of the transaction? A group of experts can often provide specialized support, ensuring a smoother process.
• If you are unavailable, who will I contact? Knowing there’s a backup plan gives peace of mind.

Fees and Contracts

• What is your commission rate, and are there any additional fees I should know about? Understanding all costs upfront helps you avoid surprises later.
• Can you walk me through the listing or buyer representation agreement? It’s crucial to fully understand the terms of your agreement.

Specialization and Expertise

• Do you specialize in any specific types of properties (e.g., luxury homes, condos, first-time buyers)? Specialization can be an advantage if your needs align with their expertise.
• Are you familiar with any unique considerations for my type of transaction (e.g., investment properties, vacation homes)? Every transaction is different. A realtor who understands your unique situation will better address your needs.

Choosing a realtor is one of the most important decisions you’ll make during your real estate journey. By asking these questions, you can better assess whether a realtor’s skills, experience, and personality align with your goals. At Stone Sisters, we’re committed to providing exceptional service and ensuring you feel confident every step of the way. Contact us today to discuss your real estate needs!

If you’re searching for a home that blends quality craftsmanship, modern design, and an ideal location, look no further than these two standout properties offered by Aspen Point Construction. Known for their dedication to excellence and client-focused approach, Aspen Point provides both a newly constructed home and a prime building lot that cater to distinct buyer needs.

1440 Hill Spring Place: Modern Elegance in a Prime Location

This brand-new home is ready to welcome its first owners. With its open-concept layout, spacious living areas, and floor-to-ceiling windows, 1440 Hill Spring Place offers an abundance of natural light and a seamless flow throughout. The property is finished with high-end materials and detailed craftsmanship, exemplifying Aspen Point's commitment to quality. Ideal for families or those seeking a modern, turnkey home, this property invites you to experience elevated living without compromise.

Learn more about 1440 Hill Spring Place here: https://www.stonesisters.com/kelowna-real-estate-listings/1440-hill-spring-place-kelowna/

431 Vision Court: Build Your Dream Home

For those who dream of crafting a home tailored to their lifestyle and personal taste, 431 Vision Court is the perfect blank canvas. Situated in a highly desirable neighborhood, this lot provides ample space to create a custom residence that fits your unique vision. Aspen Point Construction’s experienced team is ready to collaborate with you, ensuring a smooth process from inception to completion, so your new home perfectly reflects your personality and needs. Two building plans valued at $10,000 each are included in the sale.

Learn more about 431 Vision Court here: https://www.stonesisters.com/kelowna-real-estate-listings/431-vision-court-kelowna/

Why Aspen Point Construction?

Aspen Point Construction has built a reputation for excellence across Kelowna and beyond. Led by Chris King, an industry expert with over a decade of experience, Aspen Point is known for delivering stunning custom homes and ensuring client satisfaction through open communication and meticulous project management. Their dedication to quality craftsmanship ensures that whether you choose the pre-built beauty of 1440 Hill Spring Place or opt to design your dream home on 431 Vision Court, you’re partnering with a builder committed to making your vision a reality.

To learn more about Aspen Point Construction and their impressive portfolio, visit their website.

Whether you’re ready to move into a beautifully designed new home or envisioning a custom build, Aspen Point Construction is here to turn your dream into a reality. Contact us today to discuss these exceptional opportunities!

Hello,

We have almost reached the midpoint of 2024, if you can believe it. This year is going so fast already and while time is moving quickly the real estate market has slowed slightly. We thought since we are almost at the halfway mark of the year with only a few weeks left before summer break, it may be helpful to review how the Central Okanagan real estate market has fared since this time last year. Below we have broken down the details comparing May 2023 to May 2024:

• Single-Family Homes:
  • Price: $1,188,939 (May 2023) → $1,131,069 (May 2024)
  • Inventory: 5 months (May 2023) → 10 months (May 2024)
  • Trend: Inventory up 50%, prices down 5%
• Condos:
  • Price: $535,000 (May 2023) → $487,630 (May 2024)
  • Inventory: 4 months (May 2023) → 7 months (May 2024)
  • Trend: Prices down 9%, inventory up 40%
• Townhomes:
  • Price: $690,735 (May 2023) → $723,436 (May 2024)
  • Inventory: 3 months (May 2023) → 7 months (May 2024)
  • Trend: Prices up 5%, inventory up 40%

Key takeaways

• Shift to a Buyer’s Market: The overall increase in inventory and the drop in average sale prices indicate a shift towards a buyer’s market in the Central Okanagan region.
• Lots of choice: Prices for Single Family homes have decreased by 5%, and inventory has doubled, giving buyers more options and negotiating power.
• Many Condo deals: We saw a 9% decrease in condo prices, with a significant increase in inventory, making it favourable for buyers and many deals in this segment.
• Potential opportunities with Townhome segment: Despite a 5% increase in prices, the inventory has risen by 40%, balancing the market dynamics.

What This Means for You

• For Buyers: The current market conditions are favorable, with more properties available and more room for negotiation. It’s a great time to explore the options in Kelowna and find a property that meets your needs.

• For Sellers: While the market has shifted, homes that are well-maintained and priced appropriately continue to attract serious buyers. Focus on enhancing your home’s appeal to stand out in a competitive market.

If you have any further questions about the market, we would be happy to help and are only a phone call away.

Thank you,

Shannon & Tamara

Welcome to first month of 2023!

We are looking forward to the year ahead. Already we feel the downward trend of the market from the last 2 quarters of 2022 leveling out. Buyers are back looking to make purchase decisions and although some offers may be aggressive, they are making offers. Many sellers are now holding relatively firm on their prices which wasn’t the case in the last quarter of 2022.

If we remove the period of the explosive market and dramatic halt, we are in a similar market to 2019. In comparison to 2019;  days on market for 2022 was 69 and in 2019 it was 64, in 2022 there were 2365 sales and in 2019 we had 2338 homes sell. Additionally, mortgage rates back in 2019 were 5.34% and now are at 5.19% (over $1million rates provided by mortgage broker Juliana Mason).

Analyzing the numbers one segment that continues to thrive is residential waterfront, with a dramatic increase in price and limited inventory.

We continue to have numerous discussions around our office about the real estate market and one thing always remains - people still need to move no matter what the market conditions.

If you have any questions we can help answer please let us know. We would be happy to help.

Thank you,
Shannon & Tamara

P.S. we reward referrals

Welcome to Winter!

Winter sure came in with a-vengeance this year and along with it came a market shift or ‘slowdown’ which was slightly earlier than normal. Typically, we see sales start to decrease by mid-November with December being statistically the slowest month in the valley for sales. While sales are down at this time, there are some still happening and this can be a great time to sell,. Although showings will be limited, there is less competition and the online traffic is at the highest point.

We are still seeing new developments coming to market and investors from other city centres are still actively pursuing land acquisitions. Some of these investors are building apartments for rent. Our newly elected Kelowna council recently approved rezoning for two more rental buildings in the downtown area and more are close to being approved . The demand for rental properties continues to be at an all time high.  This chart below (kindly shared with us by Associated Property Management) gives you an idea of current rents in our city. Rentals.ca recently reported that the rents in Kelowna are up over 20% from last year and the average rent for a 1-bedroom condo is close to $2,000 per month.

Interestingly, today the new premier of BC, David Eby, announced a proposed Housing Supply Act which among other things would eliminate rental and age restrictions (excluding 55+) in strata buildings across the province.  The provincial government reports that we have 2900 empty condos that cannot be rented right now because of current restrictions. If this act is approved, we may see rent costs come down in coming months given the increase in supply with elimination of restrictions and new buildings coming onto market.

If you have any questions at all please let us know. We are always more than happy to help.

Thank you,
Tamara and Shannon

Welcome to September!

Now that we are a few weeks back from summer vacations, routines have started to set in. We love this month as it feels like the start of a year, with the promise of new beginnings. This positive environment has been transitioning to the market, despite the recent interest rate increases. Although we are not yet on an upward trend with prices or even close to the number of sales from a few months ago; buyers are starting to make purchase decisions. Offers are being negotiated more frequently when compared to the activity we have experienced in the previous 2 months.

August sales were up 25% over July and we feel this trend will continue into September and hopefully beyond. Although our inventory is 3 times what it was back in April we are seeing fewer properties being listed each month. We are optimistic we will slowly start to see a decline in overall inventory in the months ahead. Prices are down 8% year to date and are on par to the price levels of October 2021, making this fall a great time to be a buyer.

Given that we have a strong rental market, there is increased demand for investment properties with buyers coming from across Canada.  In addition, the change from the frenzied market has local buyers jumping back in along with those that are looking to either upgrade or downsize.

If you or anyone you know has any questions about the real estate market, we are always available.

Tamara and Shannon