Engel & Völkers Okanagan
4490 Gallaghers Forest South, No. 13, Kelowna, B.C.
Asking price: $894,900 (February)
Previous asking prices: $935,000 (Aug. 25); $925,000 (Oct. 10); $900,000 (Jan. 10)
Selling price: $875,000 (March 7)
Previous selling prices: $813,000 (2022); $447,000 (2013); $394,000 (2012)
Monthly maintenance fee: $688.33
Days on the market: 195
Taxes: $4,123 (2023)
Buyers’ agent: Richard Deacon, Engel & Völkers Okanagan
What they got
The two-level home has vaulted 11-foot ceilings.Engel & Völkers Okanagan
This two-bedroom, three-bathroom townhouse is part of the Gallaghers Canyon golf course community in the southeast part of Kelowna, about a 20-minute drive to downtown.
Built in 2008, the 2,115-square foot, two-level home has vaulted 11-foot ceilings, bright rooms, a gas fireplace, a lush garden, slightly dated granite counters and oak cabinets, and a few updates, such as new floors in the primary bedroom and air conditioning. Complex amenities include a nearby clubhouse and pool.
The action
The home has slightly dated granite counters and oak cabinets.Engel & Völkers Okanagan
The buyers had moved from Toronto and Vancouver to purchase the townhouse together for their retirement years. The sellers, who were downsizing, listed during a week of fires in Kelowna, followed by a slow fall, which hindered the sale.
Buyers’ agent Richard Deacon said it was the ideal-sized home for his clients and the open layout, view of the 10th green, and large family room won them over.
“We picked it up for what I would say would be a very good buy,” says Mr. Deacon. “My clients had been looking for only a few weeks to about a month and we’d seen about 10 or 15 places and this one jumped out as not only the right fit for their lifestyle, but a solid purchase price.”
The sale completed on April 23.
The agent’s take
Complex amenities include a nearby clubhouse and pool.Engel & Völkers Okanagan
“This particular property had only been lived in for a very brief period of time,” says Mr. Deacon. “I think [the sellers] just had a life change and needed to move on, so that’s why they had started it [priced] high, as they had recently just purchased it and done a number of updates.”
The spring market so far is mixed, he adds.
“One day there’s a little bit of activity with showings and inquiries and offers – the next day offers are falling through, and financing is not approved. It can go days and often a week at a time being very, very quiet, so I would classify the market as very inconsistent or unpredictable at the moment.”
He believes people are holding out for an interest rate drop in June.