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Research

Thompson-Okanagan LandShare Report Summer 2017

Thompson-Okanagan LandShare Report Summer 2017

Thompson-Okanagan LandShare Report Summer 2017

Throughout the second half of 2016, Kelowna and West Kelowna's residential land markets saw 16 transactions worth just over $36 million, bringing the year-end total to nearly $83 million. Activity during the first half of 2017 surpassed the second half of 2016 with 23 transactions worth just over $54 million.

  • Residential land values in Kelowna's urban centres reached unprecedented levels during the second half of 2016 and first half of 2017. Infill and densification sites, particularly in the downtown core, are selling for as much as $148 per SF.

  • The majority of multi-family transactions outside Kelowna's urban centres were concentrated around the Lower Mission and Glenmore neighbourhoods.

  • Relative to Kelowna, residential land activity in West Kelowna is much slower. With approximately 61% of the land base dedicated to resource or agricultural land, opportunities for new development remain scarce.

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