Kelowna housing prices surged in first quarter

Multi-unit housing prices in Kelowna - condos and townhomes - surged in the first quarter of the year according to a survey by Royal LePage.

The price of a condo in Kelowna is up almost 30% compared to last year at this time.

Single family homes are up by double-digits as well - a two storey home up by 11% - bungalows up by 14%.

The real estate company says an influx of new residents combined with low inventory is fueling the price increase.

A real estate broker with Royal LePage says many of the new homebuyers are from the Lower Mainland.