Engel & Völkers Okanagan
2425 Taylor Crescent, Kelowna, B.C.
Asking price: $1.3-million (Sept. 2022)
Previous asking prices: $1.499 million (July 15, 2022); $1.399-million (July 31, 2022)
Selling price: $1.195 million (Jan. 19, 2023)
Previous selling prices: $925,000 (2019); $515,000 (2010); $198,000 (2003); $190,000 (2002); $29,000 (1973)
Days on market: 174
Taxes: $5,061 (2022)
Listing agent: Richard Deacon, Engel & Völkers Okanagan
What they got
The 2,000-square-foot home has three bedrooms, three bathrooms and an office.Engel & Völkers Okanagan
This renovated rancher was built in 1957 and is in the desirable Pandosy area, steps to the lakefront, and a short distance to golfing, shops and restaurants, public transit, schools and the hospital.
The 2,000-square-foot home has three bedrooms, three bathrooms and an office. There’s a large landscaped backyard and front garden with water feature, covered patio, deck and storage. The sellers had updated the roof, electrical, plumbing and windows.
The finished basement has a third bedroom, large recreation room, bathroom, laundry room, workshop and storage.
The action
The home has a large landscaped backyard and front garden with water feature, covered patio, deck and storage.Engel & Völkers Okanagan
The house was first listed on July 15 for $1.499-million but didn’t get any offers. The sellers, a professional couple who wanted to purchase another house nearby, reduced the price to $1.399-million after two weeks, but still didn’t get offers.
“We had missed the market when this hit,” listing agent Richard Deacon says. “The market had turned by then. We were in the dog days of summer and we had a strategy in place that if we didn’t get immediate action we would reduce it, which we did.”
By the end of summer, they’d reduced it again to $1.3-million. After taking it off the market on Jan. 5 they got a flurry of requests for showings. Ten days later, they got an offer, from a young couple. The deal completed April 20.
The agent’s take
This renovated rancher was built in 1957 and is in the desirable Pandosy area, steps to the lakefront.Engel & Völkers Okanagan
“The activity has picked up since this first went on the market. The doldrums of the last few months seem to be over,” Mr. Deacon says. “Listings still haven’t skyrocketed, but I’m seeing more showings and getting more calls, more interest.
“Not necessarily seeing more offers,” he adds. “But this early activity might resemble sales activity in the next two months. It hasn’t got me excited, but there’s a glimmer of hope.”
Another Bank of Canada announcement to keep rates the same could be the push that buyers need, he says.