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0 pointskasey_junk3y ago0 comments

Kelowna is part of the Okanagan tourist area and on the lake. What happens to the analysis of home prices when you remove the houses within walking distance to the water?

It’s been a few years since I was there but last I was it had the very common tourist pattern of expensive vacation homes near the water for wealthy part time occupants and reasonable housing further away for permanent residents.

Frankly that area was better than many tourist areas where workers have to commute long distances to live in crap apartments or worse dormitories.

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refurb3y ago

Check out home prices there. Yes, the lake side homes are $2M+ and very impressive, but homes smack in the middle of the city are still close to $1M and 2 bed condos in the $500-$600k range.

And of all the tourist spots in the Okanagan, Kelowna is not a top destination - it's the smaller cosy towns with the corner store and 2 acre lots on the hills overlooking the lakes. Those cost $2M+ and seem a bit more justifiable to me at least. It's like comparing Tahoe, CA to say Tracy, CA.

And I have a family member who owns a 2 bed condo in a small town further south and the price has gone from $300k to $500k. For a plain condo built in 90's in a town of 25,000 filled with people over 60 years old.

It's nuts.

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