Jan. 8, 2021

Central Okanagan Real Estate Market Statistics: December 2020

Residential real estate sales in the Central Okanagan were down 29% in December of 2020 compared to November, with 453 sold in December versus 634 in November. Home sales this December were notably greater than this time last year, up by 67% from December of 2019, which came to 271. 

The average price of single-detached residential home in the Central Okanagan increased 26% from December of last year, coming in at $854,387 in December of 2020 compared to December of 2019's $679,304. The average price of a townhome in December of 2020 increased by 15% compared to December of last year, coming to $560,782 versus December of 2019's $489,376. The average price of a condo also increased in December of 2020 by 12% to $406,994 compared to December of 2019's $363,855.

The number of new residential listings in December of 2020 decreased by 26% compared to November, with 406 new listings in December versus November's 546. New listings in December of 2020 were still 32% higher than last December's 308. 

The average days on market (DOM) in December 2020 experienced a slight increase of 1.6% from last month, with 63 DOM in December versus November's 62. DOM this December significantly decreased by 25% from December of 2019's 84 DOM.

If you have any questions on these statistics for the Central Okanagan or would like to discuss next steps in buying or selling a home, please reach out to Jeff Creamer by email at jeff@shopkelownahomes.com or by phone at 250-575-7112. Get weekly updates on Central Okanagan real estate market statistics and other useful real estate information and tips by following Jeff on FacebookInstagram and Twitter.

Central Okanagan Real Estate Market Statistics: December 2020

Posted in Market Reports
Dec. 7, 2020

Central Okanagan Real Estate Market Statistics: November 2020

Residential real estate sales in the Central Okanagan decreased in by 11% November of 2020 compared to October, with 634 sold in November versus 708 in October. Home sales this November were still significantly greater than this time last year, up by 71% from November of 2019, which came to 371. 

The average price in the Central Okanagan of single-detached residential home increased 14% from November of last year, coming in at $856,956 in November of 2020 compared to November of 2019's $752,004. The average price of a townhome in November of 2020 increased by 9% compared to November of last year, coming to $583,920 versus November of 2019's $534,407. Conversely, the average price of a condo decreased in November of 2020 by 10% to $361,082 compared to November of 2019's $402,589.

The number of new residential listings in November of 2020 decreased by 23% compared to October, with 546 new listings in November versus October's 712. Declines in the number of home sales and listings are expected in the months leading up to the holidays. New listings in November of 2020 were 12% higher than last November's 486. 

The average days on market (DOM) in November 2020 decreased by 4.6% from last month, with 62 DOM in November versus October's 65. DOM this November decreased 17% from November of 2019's 75 DOM.

If you have any questions on these statistics for the Central Okanagan or would like to discuss next steps in buying or selling a home, feel free to reach out to Jeff Creamer by email at jeff@shopkelownahomes.com or by phone at 250-575-7112. Get weekly updates on Central Okanagan real estate market statistics and other useful real estate information and tips by following Jeff on FacebookInstagram and Twitter.

Central Okanagan Real Estate Market: November 2020

Posted in Market Reports
Nov. 12, 2020

Central Okanagan Real Estate Market Statistics: October 2020

Residential real estate sales in the Central Okanagan experienced a slight decline in October 2020, down 4% from September, with 708 sold in October versus 739 in September. Home sales this October were still significantly greater than last October, up by 85% from this time last year, which came to 382. 

The average price of a single-detached residential home in the Central Okanagan increased by 25% from October of last year, coming in at $850,634 in 2020 compared to October of 2019's $681,861. The average price of a townhome increased by 12% compared to October of last year, coming to $558,749 versus October of 2019's $500,407. The average price of a condo in October of 2020 increased by 22% to $387,803 compared to last October's $318,155.

The number of new residential listings in October of 2020 decreased by 19% compared to September, with 712 new listings in October versus September's 875. New listings this October were 11% higher than October of 2019's 640. 

The average days on market (DOM) decreased by 3% from last month, with 65 DOM in October versus September's 67. DOM this October decreased 13% from October of 2019's 77 DOM.

If you have any questions on these Central Okanagan real estate market statistics or would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to contact Jeff Creamer by email at jeff@shopkelownahomes.com or by phone at 250-575-7112. Receive weekly updates on the Central Okanagan real estate market and other useful real estate information and tips by following Jeff on FacebookInstagram and Twitter.

Central Okanagan Real Estate Market Statistics: October 2020 Title Image

Posted in Market Reports
Oct. 7, 2020

Central Okanagan Real Estate Market Statistics: September 2020

Residential real estate sales continued to grow in September of 2020 in the Central Okanagan, up by 12% compared to August, with 739 sold compared to August's 658. Home sales were also up in September 2020 by a whopping 82% from this time last year, which were 406.

The average price of a single-detached residential home in the Central Okanagan increased by 11% from September of last year, coming to $779,183 in 2020 compared to September of 2019's $701,952. The average price of a townhome increased by 7% compared to September of last year, coming to $534,366 versus September of 2019's $498,867. The average price of a condo in September of 2020 stayed mostly on par with the average price from last year, decreasing by less than 1% this September to $360,278 compared to last September's $362,505.

The number of new residential listings in September of 2020 increased by 6.5% compared to August, with 875 new listings in September versus August's 822. New listings this September were 4% higher than September of 2019's 841. 

The average days on market (DOM) remained on par with last month, with 67 DOM in September and August of 2020. DOM this September decreased 8% from September of 2019's 73 DOM.

If you have any questions on these figures or would like to talk about next steps in buying or selling a home in the Central Okanagan, feel free to contact Jeff Creamer by email at jeff@shopkelownahomes.com or by phone at 250-575-7112. Receive weekly updates on the Central Okanagan real estate market and other useful real estate information and tips by following Jeff on FacebookInstagram and Twitter.

Central Okanagan Real Estate Market Statistics: September 2020

Posted in Market Reports
Aug. 7, 2020

Central Okanagan Real Estate Market Statistics: July 2020

Residential real estate sales in the Central Okanagan continued to rise in July of 2020, boasting a 43% increase compared to last month, with 690 sold versus June's 483. Home sales in July of 2020 were also up by 35% compared to this time last year, which came to 510.

The average price of a single-detached residential home in the Central Okanagan increased by 15% in July of 2020 compared to this time last year, coming to $812,875 compared to July of 2019's $712,649. The average price of a townhome increased by 6.2% compared to last year, coming to $550,230 compared to July of 2019's $517,908. Conversely, the average price of a condo remained mostly on par with the average price from last year, decreasing by less than 1% in July of 2020 to $360,253 from July of 2019's $362,685.

The number of new residential listings remained mostly on par in July of 2020 compared to June, with 1,025 new listings in July compared to June's 1,033. New listings this July were 22% higher than July of 2019's 841. 

The average days on market (DOM) increased 6% in July of 2020 to 70 DOM versus June's 66 and was 8% higher than last year's 64 DOM. 

If you have any questions on these statistics or would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to contact Jeff Creamer by email at jeff@shopkelownahomes.com or by phone at 250-575-7112. Receive weekly updates on the Central Okanagan real estate market and other useful real estate information and tips by following Jeff on FacebookInstagram and Twitter.

Central Okanagan Real estate

Posted in Market Reports
July 8, 2020

Central Okanagan Real Estate Market Statistics: June 2020

Residential real estate sales in June of 2020 made a big comeback in the Central Okanagan compared to May, with 483 sold compared to May's 278. Home sales in June of 2020 were also up by 7% from June of 2019, which came to 451. The Central Okanagan real estate market seems to be recovering after the COVID-19 slowdown and may recover quicker than originally thought; however, it's best to remain "cautiously optimistic" as the pandemic is not yet over.

The average price of a single-detached residential home in the Central Okanagan increased by 8% in June of 2020 compared to June of last year, coming to $748,428 compared to June of 2019's $692,246. The average price of a townhome increased compared to last year, coming to $524,638, a 3.2% increase from June of 2019's $508,397. The average price of a condo decreased by 3.2% in June of 2020 to $339,241 from June of 2019's $350,506.

The number of new residential listings increased 34% in June of 2020 compared to May, with 1,033 new listings in June compared to May's 772. New listings this June were also 8% higher than June of 2019's 961. 

The average days on market (DOM) decreased 10% in June of 2020 to 66 DOM versus May's 73 but was 16% higher than last year's 57 DOM. 

If you have any questions on these numbers or would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to contact Jeff Creamer by email at jeff@shopkelownahomes.com or by phone at 250-575-7112. Receive weekly updates on the Central Okanagan real estate market and other useful real estate information and tips by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics June 2020 Title Image

Posted in Market Reports
June 4, 2020

Central Okanagan Real Estate Market Statistics: May 2020

Residential real estate sales made a slight comeback in May in the Central Okanagan compared to April, with 278 sold compared to April's 205. Due to COVID-19 restrictions, sales in May were down 45% from May of last year, which were 508.

Although real estate sales in May were impacted by COVID-19, the average price of a single-detached residential home in the Central Okanagan increased by 5% this May compared to May of last year, coming in at $724,767 compared to May of 2019's $689,469. The average price of a townhome went down slightly compared to last year, coming to $480,139, a 1.9% decrease from May of 2019's $489,555. The average price of a condo decreased by 10% in May to $321,526 from last year's $357,184.

The number of new residential listings increased 40% in May compared to April, with 772 new listings in May compared to April's 553. New listings this May were 32% lower than May of 2019's 1,137. 

The average days on market (DOM) significantly increased by 17% in May to 73 DOM versus April's 62 and was 24% higher than May of 2019's 59 DOM. 

If you have any questions on these real estate market statistics or would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to contact Jeff Creamer by email at jeff@shopkelownahomes.com or by phone at 250-575-7112. Receive weekly updates on the Central Okanagan real estate market and other useful real estate information and tips by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics: May 2020

Posted in Market Reports
May 12, 2020

Central Okanagan Real Estate Market Statistics: April 2020

Residential real estate sales in the Central Okanagan fell 47% in April compared to March, with 205 sold in April versus March's 383. April is typically a busy month for real estate; however, due to COVID-19 restrictions, sales this April were down 52% compared to April of 2019, which came to 424 for the region. As BC undergoes its restart plan and things start returning to their previous state as much as they can, the real estate market is expected to simultaneously but slowly recover.

Although the amount of real estate sales was impacted by COVID-19, the average price of a single-detached residential home in the Central Okanagan went in the other direction, increasing by 2.3% this April compared to April of last year, coming in at $713,450 compared to April of 2019's $697,241. The average price of a townhome also went up compared to last year, coming to $498,853, a 5.4% increase from April of 2019's $471,881. Conversely, the average price of condos decreased by 18% in April to $335,673 from last year's $409,629.

The number of new residential listings decreased 40% from March, with 553 new listings in April compared to March's 916. New listings this April were 49% lower than April of 2019's 1,075. 

The average days on market (DOM) decreased 5% in April to 62 DOM from March's 65 and was 9% less than April of 2019's 68 DOM. 

If you have any questions on these numbers or would like to discuss buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Receive weekly updates on the Central Okanagan real estate market and other useful real estate information and tips by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics: April 2020

Posted in Market Reports
April 7, 2020

Central Okanagan Real Estate Market Statistics: March 2020

Central Okanagan residential real estate sales experienced a 26% increase in March compared to February, with 383 sold in March versus February's 283. March residential real estate sales were also up by 10% from March of 2019's 343. Although sales increased in March, many of these deals were most likely in-progress prior to the outbreak of COVID-19, which will most likely result in a market slowdown in the coming months. Realtors are still able to facilitate real estate transitions utilizing technology while social distancing restrictions are in effect.

The average price of a single-detached residential home in the Central Okanagan experienced a slight decrease of .6% this March compared to March of last year, coming in at $718,009 compared to March of 2019's $722,265. The average price of a townhome also went up compared to last year, coming to $516,250, a 4% increase from March of 2019's $494,884. The average price of condos decreased by 12% in March to $331,953 from last year's $371,338.

The number of new residential listings increased 26% from February, with 916 new listings in March compared to February's 677. New listings this March were 2% higher than March of 2019's 898. 

The average days on market (DOM) decreased 14% in March to 65 DOM from February's 74 and was 3% less than March of 2019's 67 DOM. 

If you have any questions about the data or would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Receive weekly updates on the Central Okanagan real estate market and other useful real estate information and tips by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics March 2020

Posted in Market Reports
March 10, 2020

Central Okanagan Real Estate Market Statistics: February 2020

February saw a 12% increase in residential real estate sales in the Central Okanagan from January, with 283 sold in February versus January's 250. February residential real estate sales were also up by 8% from February of 2019's 263. 

The average price of a single-detached residential home in the Central Okanagan increased by 9% this February compared to last February, coming in at $734,799 compared to February of 2019's $669,073. The average price of townhomes also increased compared to last year, coming in at $503,487, an 8% increase from February of 2019's $462,105. The average price of condos increased 9% in February to $351,814 from last year's $319,824. 

The number of new residential listings experienced an increase of 19% from January, with 677 new listings in February compared to January's 549. New listings this February were 3% higher than February of 2019's 659. 

The average days on market (DOM) decreased 7% in February to 74 DOM from January's 80 and was slightly up from last February's 73 DOM. 

If you have any questions on these figures or would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Receive weekly updates on the Central Okanagan real estate market and other useful real estate information and tips by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics: February 2020

Posted in Market Reports