Kelowna is a city on Okanagan Lake in the Okanagan Valley, in the southern interior of British Columbia, Canada. It serves as the head office of the Regional District of Central Okanagan. Its name derives from an Okanagan language term for "grizzly bear". Kelowna is the third largest metropolitan area in the province and ranks as the 22nd largest in Canada, with a population of 179,839 in 2011. Nearby communities include the City of West Kelowna (also referred to as Westbank, Westside) to the west across Okanagan Lake, Lake Country andVernon to the north, as well as Peachland to the southwest and, further to the south, Summerland and Penticton.
Why should I invest in Kelowna?
As they say - location, location, location! Situated along the sandy shores of Okanagan Lake in the southern interior of British Columbia, the Central Okanagan boasts an unparalleled quality of life. Kelowna has the fastest growing population in Canada and 80% of it is based on Canadians relocating there from other provinces! It houses its own yacht club, over 200 wineries, 19 golf courses and 5 ski hills. It is the ultimate relocation destination for people wanting to slow down and enjoy life. It is the largest trading area between greater Vancouver and Alberta and the unemployment rate is very low.
Kelowna Market Facts (Last Published):
- 2016 Vacancy Rate: 0.7%
- Average MLS residential sale price: $623,092
- Average MLS Days on Market (DOM): 29
- Total Market Listings (MLS): 740
- Average weekly earnings (BC): $927
- Average 1 bedroom rent: $799
- Unemployment Rate: 8.1%
According to the Statistics Canada 2011 census, the population estimates there were 117,312 people residing in Kelowna proper, and 147,739 people residing in the Greater Kelowna Area. As Kelowna has one of the most rapidly growing populations in Canada, its population statistics generally become out-of-date quite rapidly. More recent population estimates (as of 2014) give the Greater Kelowna Area a population of just under 200,000. The most recent (2014) estimate of the population of Kelowna proper is 122,000 - slightly behind expectations.