With real estate prices soaring, property in Kelowna that were once selling under that 1 million dollar price tag, are now well over that. So what really classifies a Luxury home in Kelowna?
According to RE/MAX Collections, the Luxury division for the RE/MAX brand, a luxury home is classified as any home that is double the average price for that market. In Kelowna the average home price year to date is $644,051. A luxury home in Kelowna would be a property with a list price of over $1,288,000.
Some other definitions of a luxury property would be a little more subjective.
A luxury home in Kelowna would typically have the following features to justify the luxury price tag:
Large family homes
Luxury home finishings
Luxury home gyms and media rooms
A luxury home in Kelowna located at 1070 Westpoint Drive was recently sold for 1.9 million. This Lower Mission home features unique architecture with flat roof and hard lines. Also featuring the use of brick, steel, concrete and wood made this in a league of it’s own. Built as a large family home it backed onto a large vineyard and featured an infinity edge pool with sunken hot tub and had great lakeviews.
An obvious example of a luxury property in Kelowna is a home located at 320 Poplar Point. Tommie award winner for home of the year this waterfront home is one of kind. This home features stunning architecture, top of the line finishings and fixtures and has price tag of $6.7 million. This stunning home has state of the art home automation, imported linear fireplaces, custom furniture and fixtures and a one of a kind hand built wine cellar.
Whether you are buying or selling a luxury home, it is important to have the right Kelowna real estate agent working for you. Most luxury homes or waterfront properties have unique features and the marketing must be tailored to attract the right buyer.
Quincy Vrecko of RE/MAX Kelowna exclusively deals with buying and selling luxury real estate in Kelowna. Quincy highly skilled in negotiating multi-million dollar transactions. He is very knowledgeable with the intricacies of luxury properties in Kelowna. Quincy has 26 years in the luxury industry. As a luxury real estate agent, he understands the difference when working with luxury home buyers and sellers. Contact Quincy today 1-250-863-8810!