The real estate market in Kelowna is expected to make a healthy recovery in 2010.
According to a report released Thursday by REMAX, house prices in Kelowna will increase about 5 per cent in 2010.
Property values in Kelowna fell marginally this year.
The report goes on to say the major front runners in terms of unit sales appreciation in 2010 are all in Western Canada, led by Kelowna with an anticipated upswing of 10 per cent in housing sales.
"Some of the greatest percentage gains were reported in Western Canadian markets in 2009, demonstrating the higher the peak the lower the valley," says Regional Executive Vice-President, Elton Ash.
"That said, the recession barely registered on year-over-year activity in most major centres."
The report further states that nationally, the average price of a home is expected to rise to $325,000 by the end of 2010, the highest level in Canadian history.
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