In this episode of "Real Estate for Real People," hosts Tamara and Shannon Stone discuss the value of real estate in the Okanagan Valley, particularly in Kelowna, compared to other cities in the world. They highlight the potential growth of the high-end real estate market in the area and compare it to other cities like Vancouver and Toronto. The hosts also discuss the investment potential of real estate in the Okanagan Valley and address concerns about the market dropping. They address common concerns about the market, providing listeners with a well-rounded perspective on the real estate industry in the area. Overall, this episode is a must-listen for anyone interested in the real estate market in the Okanagan Valley. The Stone Sisters encourage listeners to reach out with any questions about the real estate market.

What we discuss:[00:01:18]Tamara and Shannon discuss the value of real estate in Kelowna compared to other places in the world, such as the recent sale of a $239 million condo in New York City.

[00:01:54]Tamara and Shannon discuss the potential growth of the Okanagan Valley's real estate market, comparing it to Napa Valley and the changing climate.

[00:05:15]Tamara and Shannon discuss the current market for properties over $10 million in Central Okanagan, including the most expensive property for sale listed at just under $46 million and the five properties that have sold over $10 million in the past.

[00:09:55]Tamara and Shannon discuss the growth of the high-end real estate market in the Okanagan Valley, with five properties selling over $5 million in the last six months.

[00:11:17]The hosts compare the real estate market in the Okanagan Valley to other markets, such as Napa Valley and Toronto, and discuss the potential for buyers to sell their properties in other markets and move to the Okanagan.

[00:15:25]Tamara and Shannon discuss their efforts to promote the Okanagan Valley as a desirable place to live, with its international airport, high-tech industry, and cultural offerings.

[00:17:06]Discussion on the investment market in Kelowna compared to Toronto and Vancouver, and the potential for positive cash flow and appreciation.

[00:18:13]The hosts discuss the steady increase and appreciation in real estate values in Kelowna, as well as the lack of supply and sales of high-priced properties.

[00:19:09]The hosts mention the most expensive non-waterfront property sold in Kelowna for $44 million and compare it to the most expensive property for sale at just under $46 million, highlighting the value in Kelowna's real estate market.