Engel & Völkers Kelowna
1435 Cara Glen Court, No. 146, Kelowna, B.C.
Asking price: $769,900 (Dec. 4); $749,900 (Jan. 21); $739,900 (Mar 6)
Selling price: $734,900 (March 22)
Previous sale price: $614,900 (October, 2022)
Days on the market: 16
Monthly maintenance fee: $301.77
Taxes: $3,183.41 (2023)
Buyer’s agent: Richard Deacon, Engel & Völkers Okanagan
What they got
The unit has an open-concept kitchen, dining and living areas.Engel & Völkers Kelowna
This new three-bedroom, 2½-bathroom townhouse is in the Glenmore area of Kelowna, near Knox Mountain Park. Downtown is a five-minute drive and there are nearby trails and schools.
The 1,599-square-foot corner unit was completed last year, part of new subdivision still under development. It includes an open-concept kitchen, dining and living areas with engineered wood floors and pot lights. There is a walkout patio and balconies with mountain views.
The action
The unit has a walkout patio and balconies with mountain views.Engel & Völkers Kelowna
The buyer was a young tech professional from New Brunswick who had been living in Kelowna for the last year and was renting.
“He was searching for a townhome within five to seven minutes from his office downtown and close to the lake,” said his agent, Richard Deacon.
His buyer wanted to be near the city, with room for a vehicle, storage and access to the outdoors.
He didn’t want to pay the higher strata fees that go along with an on-site gym. The number of bedrooms gave his client the option to have a future roommate.
There were no other offers on the unit, which was a resale, so Mr. Deacon’s client did not have to pay GST. Mr. Deacon didn’t know why the seller put the unit on the market after owning it for such a short time.
The agent’s take
The market last fall was a slow one, and the winter market is traditionally slow, so there were price adjustments on the property.
“In terms of today’s market, it’s very up and down and all over the road. There’s no consistency,” says Mr. Deacon. “One day or week there’s activity and deals flow, the next day or next week is quiet. I think truly what a lot of buyers are waiting for is increasing inventory which seems to be coming out again. And buyers also seem to be anticipating an interest rate decrease.