June 14, 2022

Central Okanagan / Kelowna Real Estate Market Statistics: May 2022

Central Okanagan Real Estate Market Stats: May 2022Central Okanagan / Kelowna Real Estate Market Overview: May 2022

Similar to the previous month, residential real estate sales in the Central Okanagan / Kelowna real estate market continued to decline in May 2022 across all housing types. The number of listings of single-family and townhomes increased compared with May 2021, while the number of new condo listings were 10% lower than last year. While declining since last month, prices for all housing types are higher compared with this time last year; however, average days on market (DOM) is starting to increase for single-family homes and townhomes while continuing to decline for condos.

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased 28% in May 2022 versus May of 2021, with 243 homes sold in May 2022 versus May of 2021's 335.

The number of new listings of single-family homes in the Central Okanagan increased 32% this May compared to May of 2021, with 623 new residential listings this May compared to last May's 472 new listings.

The average price of single-family homes in the Central Okanagan increased 14% in May 2022 since May of last year, coming in at $1,139,144 versus May of 2021's $997,441. 

The average days on market (DOM) of single-family homes in the Central Okanagan increased 8% in May 2022 compared to May of 2021, with 26 DOM in May 2022 versus last May's 24 DOM.

Townhomes

Sales of Central Okanagan townhomes decreased 25% in May 2022 since May of 2021, with 91 townhomes sold this May versus last May's 122. 

The number of new townhome listings in the Central Okanagan increased 14% this May since May of 2021, with 179 new listings in May of 2022 compared to last May's 157.

The average price of townhomes increased 18% this May in the Central Okanagan compared to May of last year, coming to $768,155 this May versus last May's $652,933. 

The average days on market (DOM) of townhomes in the Central Okanagan increased 13% in May 2022 compared to May of last year, with 26 DOM in May 2022 versus May of 2021's 23 DOM.

Condos

Condo sales in the Central Okanagan in May of 2022 decreased 30% compared to May of last year, with 164 sold this May compared last May's 233. 

The number of new condo listings in the Central Okanagan decreased 10% in May 2022 compared to this time last year, with 234 new condo listings in May of 2022 compared to 261 new listings in May of 2021.

The average prices of Central Okanagan condos increased 19% this May compared to May of 2021, coming in at $518,637 in May of 2022 compared to last May's $437,245.

The average days on market (DOM) of condos in the Central Okanagan fell 17% in May 2022 compared to May of last year, with 25 DOM in May 2022 versus May of 2021's 30 DOM.

Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
May 10, 2022

Central Okanagan / Kelowna Real Estate Market Statistics: April 2022

Central Okanagan Real Estate Market Statistics: April 2022Central Okanagan / Kelowna Real Estate Market Overview:
April 2022

Residential real estate sales in the Central Okanagan / Kelowna real estate market continued to decrease across all housing types in April 2022. The number of listings of single-family and townhomes increased since this time last year, while condo listings continued to decline. Prices continue to substantially increase across the board, yet homes are being snatched from the market by buyers about twice as quickly as they were at this time last year.

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased 38% in April 2022 versus April of 2021, with 245 homes sold in April 2022 compared to April of 2021's 398.

The number of new listings of single-family homes in the Central Okanagan increased 18% this April compared to April of 2021, with 603 new residential listings this April versus last April's 511 new listings.

The average price of single-family homes in the Central Okanagan increased 28% in April 2022 since April of last year, coming in at $1,242,760 versus April of 2021's $974,471. 

The average days on market (DOM) of single-family homes in the Central Okanagan decreased 4% in April 2022 compared to April of 2021, with 22 DOM in April 2022 versus last April's 23 DOM.

Townhomes

Sale of Central Okanagan townhomes decreased 25% in April 2022 since April of 2021, with 95 townhomes sold this April versus last April's 127. 

The number of new townhome listings in the Central Okanagan increased 29% this April compared with April of last year, with 181 new listings in April of 2022 compared to last April's 140.

The average price of townhomes increased 21% this April in the Central Okanagan compared to April of last year, coming to $774,601 this April compared to last April's $641,003. 

The average days on market (DOM) of townhomes in the Central Okanagan decreased 50% in April 2022 compared to April of last year, with 19 DOM in April 2022 compared to April of 2021's 38 DOM.

Condos

Condo sales in the Central Okanagan in April of 2022 decreased 33% compared to April of last year, with 168 sold this April compared to last April's 249. 

The number of new condo listings in the Central Okanagan decreased 14% in April 2022 compared to this time last year, with 255 new condo listings in April of 2022 compared to 297 new listings in April of 2021.

The average prices of Central Okanagan condos increased 26% this April compared to April of 2021, coming in at $548,560 in April of 2022 compared to last April's $405,000.

The average days on market (DOM) of condos in the Central Okanagan fell 29% in April 2022 compared to April of last year, with 27 DOM in April 2022 versus April of 2021's 38 DOM.

Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
April 6, 2022

Central Okanagan Real Estate Market Statistics: March 2022

Central Okanagan Kelowna Real Estate Market Stats: March 2022Central Okanagan / Kelowna Real Estate Market Overview: March 2022

While home prices continue to rise, the Central Okanagan / Kelowna Real Estate Market is experiencing a shift, with fewer sales and an increased number of listings across most housing types. 

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased 27% in March 2022 versus March of 2021, with 301 homes sold in March 2022 compared to March of 2021's 411.

The number of new listings of single-family homes in the Central Okanagan increased 15% this March compared to March of 2021, with 579 new residential listings this March versus last March's 505 new listings.

The average price of single-family homes in the Central Okanagan increased 38% in March 2022 since March of last year, coming in at an record of $1,281,050 versus March of 2021's $963,810. 

The average days on market (DOM) of single-family homes in the Central Okanagan decreased 33% in March 2022 compared to March of 2021, with 22 DOM in March 2022 versus last March's 33 DOM.

Townhomes

Sale of Central Okanagan Townhomes decreased 44% in March 2022 since March of 2021, with 83 townhomes sold this March versus last March's 148. 

The number of new townhome listings in the Central Okanagan this March remained mostly on par with March of 2021, with 153 new listings in March of 2022 compared to last March's 151.

The average price of townhomes increased 34% this March in the Central Okanagan compared to March of last year, coming to $860,573 this March compared to last March's $640,589. 

The average days on market (DOM) of townhomes in the Central Okanagan decreased 26% in March 2022 compared to March of last year, with 29 DOM in March 2022 compared to March of 2021's 39 DOM.

Condos

Condo sales in the Central Okanagan in March of 2022 decreased 25% compared to March of last year, with 201 sold this March compared last March's 267. 

The number of new condo listings in the Central Okanagan decreased 21% in March 2022 compared to this time last year, with 281 new condo listings in March of 2022 compared to 318 new listings in March of 2021.

The average prices of Central Okanagan condos increased 28% this March compared to March of 2021, coming in at $550,328 in March of 2022 compared to last March's $429,369.

The average days on market (DOM) of condos in the Central Okanagan fell 31% in March 2022 compared to March of last year, with 29 DOM in March 2022 versus March of 2021's 42 DOM.

Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
March 11, 2022

Central Okanagan Real Estate Market Statistics: February 2022

Central Okanagan Real Estate Market Statistics: February 2022Single-Family Residential Homes

Residential real estate sales in the Central Okanagan of single-family residential homes decreased 20% in February 2022 compared to February of 2021, with 231 homes sold in February 2022 versus February of 2021's 288.

The number of new listings of single-family homes in the Central Okanagan also decreased 10% this February since February of 2021, with 314 new listings this February versus last February's 349.

The average price of single-family homes in the Central Okanagan increased 38% in February 2022 compared to February of last year, coming in at an record of $1,251,713 versus February of 2021's $904,864. 

The average days on market (DOM) of single-family homes in the Central Okanagan decreased 37% in February 2022 compared to this time last year, with 27 DOM in February 2022 versus February of 2021's 43 DOM.

Townhomes

Central Okanagan townhome sales decreased 20% in February 2022 compared to February of 2021, with 99 townhomes sold this February versus last February's 124. 

The number of new townhome listings in the Central Okanagan also decreased by 20% this February compared to this time last year, with 99 new listings this February compared to last February's 124.

The average price of townhomes increased 25% this February in the Central Okanagan compared to February of last year, coming to $767,120 this February compared to last February's $569,000. 

The average days on market (DOM) of townhomes in the Central Okanagan decreased 34% in February 2022 compared to February of last year, with 29 DOM in February 2022 compared to February of 2021's 44 DOM.

Condos

Central Okanagan condo sales in February of 2022 decreased 9% compared to February of last year, with 167 sold this February compared last February's 183. 

The number of new condo listings in the Central Okanagan decreased 20% in February 2022 compared to this time last year, with 192 new condo listings in February of 2022 compared to 240 new listings in February of 2021.

The average prices of Central Okanagan condos increased 28% this February compared to February of 2021, coming in at $525,350 in February of 2022 compared to last February's $411,807.

The average days on market (DOM) of condos in the Central Okanagan fell 50% in February 2022 compared to February of last year, with 33 DOM in February 2022 versus February of 2021's 66 DOM.

Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
Feb. 9, 2022

Central Okanagan Real Estate Market Statistics: January 2022

Central Okanagan Real Estate Market Stats: January 2022

Single-Family Residential Homes

Central Okanagan real estate sales of single-family residential homes decreased 17% in January 2022 compared to January of 2021, with 157 homes sold in January 2022 versus January of 2021's 190.

The number of new listings of single-family homes in the Central Okanagan increased 5% this January since January of 2021, with 225 new listings this January compared to last January's 214.

The average price of Central Okanagan single-family homes increased 24% in January 2022 compared to January of last year, coming in at $1,096,289 versus January of 2021's $887,868. 

The average days on market (DOM) of single-family homes in the Central Okanagan decreased 38% in January 2022 compared to this time last year, with 37 DOM in January 2022 versus January of 2021's 60 DOM.

Townhomes

Central Okanagan townhome sales decreased 12% in January 2022 compared to January of 2021, with 67 townhomes sold this January versus last January's 76. 

The number of new townhome listings in the Central Okanagan decreased by 33% this January compared to this time last year, with 84 new listings this January compared to last January's 125.

The average price of townhomes increased by 19% this January in the Central Okanagan compared to January of last year, coming in at $707,445 this January compared to last January's $593,398. 

The average days on market (DOM) of townhomes in the Central Okanagan decreased 43% in January 2022 compared to January of last year, with 40 DOM in January 2022 compared to January of 2021's 70 DOM.

Condos

Central Okanagan condo sales in January of 2022 were only 1% higher than January of last year, with 107 sold this January compared to January of 2021's 106. 

The number of new condo listings in the Central Okanagan in January 2022 decreased 31% compared to this time last year, with 128 new condo listings in January of 2022 versus 185 in January of 2021.

The average prices of Central Okanagan condos increased 42% this January compared to January of 2021, coming in at $532,907 in January of 2022 compared to last January's $375,846.

The average days on market (DOM) of condos in the Central Okanagan fell 38% in January 2022 compared to January of last year, with 43 DOM in January 2022 versus January of 2021's 69 DOM.

Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
Jan. 13, 2022

Central Okanagan Real Estate Market Statistics: December 2021

Central Okanagan Real Estate Market Statistics: December 2021Single-Family Residential Homes

Real estate sales of Central Okanagan single-family detached residential homes decreased 21% in December 2021 compared to December of 2020, with 153 homes sold in December 2021 versus December of 2020's 193.

The number of new listings of single-family detached residential homes in the Central Okanagan decreased 26% this December since December of 2020, with 132 new listings this December compared to last December's 179.

The average price of Central Okanagan single-family detached residential homes increased 18% in December 2021 compared to December of last year, coming in at $1,009,016 versus December of 2020's $854,387. 

The average days on market (DOM) of single-family detached residential homes in the Central Okanagan decreased 39% in December 2021 compared to this time last year, with 36 DOM in December 2021 versus December of 2020's 59 DOM.

Townhomes

Central Okanagan townhome sales decreased 21% in December 2021 compared to December of 2020, with 53 townhomes sold this December versus last December's 67. 

The number of new townhome listings in the Central Okanagan decreased by 44% this December compared to this time last year, with 43 new listings this December compared to last December's 77.

The average price of townhomes increased by 24% this December in the Central Okanagan compared to December of last year, coming in at $697,817 this December compared to last December's $561,224. 

The average days on market (DOM) of townhomes in the Central Okanagan decreased 19% in December 2021 compared to December of last year, with 51 DOM in December 2021 compared to December of 2020's 63 DOM.

Condos

Sales of Central Okanagan condos in December of 2021 were 7% higher than December of last year, with 109 sold this December compared to December of 2020's 102. 

The number of new condo listings in the Central Okanagan in December 2021 were on par with this time last year, with 113 new condo listings in December of 2021 and 2020.

The average prices of Central Okanagan condos increased 25% this December compared to December of 2020, coming in at $444,900 in December of 2021 compared to last December's $356,000.

The average days on market (DOM) of condos in the Central Okanagan fell 52% in December 2021 compared to December of last year, with 31 DOM in December 2021 versus December of 2020's 65 DOM.

Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
Dec. 8, 2021

Central Okanagan Real Estate Market Statistics: November 2021

Central Okanagan Real Estate Market Statistics: November 2021Single-Family Residential Homes

Real estate sales of Central Okanagan single-family detached residential homes decreased 13% in November 2021 compared to November of 2020, with 252 homes sold in November 2021 versus November of 2020's 291.

The number of new listings of single-family detached residential homes in the Central Okanagan increased slightly by 3% this November since November of 2020, with new listings this November compared to last November's 220.

The average price of Central Okanagan single-family detached residential homes increased 24% in November 2021 compared to November of last year, coming in at $1,063,419 versus November of 2020's $856,964. 

The average days on market (DOM) of single-family detached residential homes in the Central Okanagan decreased 37% in November 2021 compared to this time last year, with 36 DOM in November 2021 versus November of 2020's 57 DOM.

Townhomes

Central Okanagan townhome sales decreased 37% in November 2021 compared to November of last year, with 67 townhomes sold this November versus last November's 106. 

The number of new townhome listings in the Central Okanagan decreased by 36% this November compared to this time last year, with 78 new listings this November compared to last November's 121.

The average price of townhomes increased by 19% this November in the Central Okanagan compared to November of last year, coming in at $692,420 this November compared to last November's $583,914.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 19% in November 2021 compared to November of last year, with 51 DOM in November 2021 compared to November of 2020's 63 DOM.

Condos

Sales of Central Okanagan condos in November of 2021 were on par with November of last year, with 163 sold this November compared to November of 2020's 164. 

The number of new condo listings in the Central Okanagan increased by 15% in November 2021 from this time last year, with 179 listings in this November versus last November's 155.

The average prices of Central Okanagan condos increased 41% this November compared to November of 2020, coming in at $502,251 in November of 2021 compared to last November's $355,729.

The average days on market (DOM) of condos in the Central Okanagan fell 50% in November 2021 compared to November of last year, with 31 DOM in November 2021 versus November of 2020's 62 DOM.

Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
Nov. 3, 2021

Central Okanagan Real Estate Market Statistics: October 2021

Central Okanagan Real Estate Market Statistics for October 2021Single-Family Residential Homes

Real estate sales of Central Okanagan single-family detached residential homes decreased 29% in October 2021 compared to October of 2020, with 250 homes sold in October 2021 versus October of 2020's 353. Decreasing sales continue to be driven by lack of inventory across all housing types as demand remains high.

The number of new listings of single-family detached residential homes in the Central Okanagan increased 6% this October since October of 2020, with 339 new listings this October compared to last October's 320. This increase in listings from last year is promising, as inventory has been consistently low for the past several months.

The average price of Central Okanagan single-family detached residential homes increased 22% in October 2021 compared to October of last year, coming in at $1,031,723 versus October of 2020's $848,795. 

The average days on market (DOM) of single-family detached residential homes in the Central Okanagan decreased 44% in October 2021 compared to this time last year, with 33 DOM in October 2021 versus October of 2020's 59 DOM.

Townhomes

Central Okanagan townhome sales decreased 33% in October 2021 compared to October of last year, with 91 townhomes sold this October versus last October's 136. 

The number of new townhome listings in the Central Okanagan decreased by 6% this October compared to this time last year, with 106 new listings this October compared to last October's 113.

The average price of townhomes increased by 21% this October in the Central Okanagan compared to October of last year, coming in at $677,672 this October compared to last October's $558,727.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 7% in October 2021 compared to October of last year, with 36 DOM in October 2021 compared to October of 2020's 74 DOM.

Condos

Sales of Central Okanagan condos were 7% lower in October of 2021 compared to October of last year, with 154 sold this October compared to October of 2020's 165. 

The number of new condo listings in the Central Okanagan decreased by 5% in October 2021 from this time last year, with 183 listings in this October versus last October's 193.

The average prices of Central Okanagan condos increased 27% this October compared to October of 2020, coming in at $492,626 in October of 2021 compared to last October's $387,803.

The average days on market (DOM) of condos in the Central Okanagan fell 41% in October 2021 compared to October of last year, with 37 DOM in October 2021 versus October of 2020's 63 DOM.

Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
Oct. 8, 2021

Central Okanagan Real Estate Market Statistics: September 2021

Central Okanagan Real Estate Market Statistics: September 2021Single-Family Residential Homes

Real estate sales of Central Okanagan single-family detached residential homes decreased 31% in September 2021 compared to September of 2020, with 244 homes sold in September 2021 compared to September of 2020's 354. Sales continue to slow due to lack of inventory, not lack of demand.

The number of new listings of single-family detached residential homes in the Central Okanagan decreased 7% this September compared to September of 2020, with 347 new listings this September compared to last September's 374.

The average price of Central Okanagan single-family detached residential homes increased 23% in September 2021 compared to September of last year, coming in at $1,034,238 versus September of 2020's $844,099. 

The average days on market (DOM) of single-family detached residential homes in the Central Okanagan decreased 54% in September 2021 compared to this time last year, with 30 DOM in September 2021 versus September of 2020's 65 DOM.

Townhomes

Central Okanagan townhome sales decreased 39% in September 2021 compared to September of last year, with 75 townhomes sold this September versus last September's 122. 

The number of new townhome listings in the Central Okanagan decreased by 26% this September compared to this time last year, with 103 new listings this September compared to last September's 139.

The average price of townhomes increased by 20% this September in the Central Okanagan compared to September of last year, coming in at $629,000 this September compared to last September's $524,898.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 94% in September 2021 compared to September of last year, with 39 DOM in September 2021 compared to September of 2020's 673 DOM.

Condos

Sales of Central Okanagan condos were 5% lower in September of 2021 compared to September of last year, with 161 sold this September compared to September of 2020's 170. 

The number of new condo listings in the Central Okanagan decreased by 25% in September 2021 from this time last year, with 201 listings in this September versus last September's 268.

The average prices of Central Okanagan condos increased 22% this September compared to September of 2020, coming in at $476,547 in September of 2021 compared to last September's $392,286.

The average days on market (DOM) of condos in the Central Okanagan fell 46% in September 2021 compared to September of last year, with 37 DOM in September 2021 versus September of 2020's 68 DOM.

Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
Sept. 14, 2021

Central Okanagan Real Estate Market Statistics: August 2021

Central Okanagan Real Estate Market Statistics: August 2021Single-Family Residential Homes

Real estate sales of Central Okanagan single-family detached residential homes decreased 25% in August 2021 compared to August of 2020, with 236 homes sold in August 2021 compared to August of 2020's 316. Sales have continued to slow down due to lack of inventory, and the market remains favorable to sellers.

The number of new listings of single-family detached residential homes in the Central Okanagan decreased 10% this August compared to August of 2020, with 336 new listings this August compared to last August's 374.

The average price of Central Okanagan single-family detached residential homes increased 23% in August 2021 compared to August of last year, coming in at $1,003,279 versus August of 2020's $813,813. 

The average days on market (DOM) of single-family detached residential homes in the Central Okanagan decreased 52% in August 2021 compared to this time last year, with 30 DOM in August 2021 versus August of 2020's 62 DOM.

Townhomes

Central Okanagan townhome sales decreased 30% in August 2021 compared to August of last year, with 76 townhomes sold this August versus last August's 109. 

The number of new townhome listings in the Central Okanagan decreased by 32% this August compared to this time last year, with 97 new listings this August compared to last August's 143.

The average price of townhomes increased by 18% this August in the Central Okanagan compared to August of last year, coming in at $686,626 this August compared to last August's $583,173.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 55% in August 2021 compared to August of last year, with 31 DOM in August 2021 compared to August of 2020's 69 DOM.

Condos

Sales of Central Okanagan condos were 14% higher in August of 2021 compared to August of last year, with 167 sold this August compared to August of 2020's 146. 

The number of new condo listings in the Central Okanagan decreased by 21% in August 2021 from this time last year, with 171 listings in this August versus last August's 217.

The average prices of Central Okanagan condos increased 21% this August compared to August of 2020, coming in at $447,896 in August of 2021 compared to last August's $370,620.

The average days on market (DOM) of condos in the Central Okanagan fell 48% in August 2021 compared to August of last year, with 36 DOM in August 2021 versus August of 2020's 69 DOM.

Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports