Sept. 14, 2021

Central Okanagan Real Estate Market Statistics: August 2021

Central Okanagan Real Estate Market Statistics: August 2021Central Okanagan Single-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.

Central Okanagan 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.

Central Okanagan 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
Aug. 5, 2021

Central Okanagan Real Estate Market Statistics: July 2021

July 2021 Central Okanagan Real Estate Market StatisticsSingle-Family Residential Homes

Central Okanagan real estate sales of single-family detached residential homes fell 30% in July 2021 compared to July of 2020, with 236 homes sold in July 2021 versus July of 2020's 336. Sales decreased despite high demand that's still outpacing supply and could largely be due to lack of inventory.

The number of new listings of single-family detached residential homes in the Central Okanagan decreased 34% this July compared to July of 2020, with 316 new listings this July compared to last July's whopping 475.

The average price of Central Okanagan single-family detached residential homes increased 24% in July 2021 compared to July of last year, coming in at a staggering $1,011,514 versus July of 2020's $813,083. 

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

Townhomes

Townhome sales in the Central Okanagan were 19% lower in July 2021 compared to July of last year, with 100 townhomes sold this July versus last July's 123. 

The number of new townhome listings in the Central Okanagan decreased by 30% this July compared to this time last year, with 105 new listings this July compared to last July's 150.

The average price of townhomes increased by 24% this July in the Central Okanagan compared to July of last year, coming in at $679,678 this July compared to last July's $550,230.

The average days on market (DOM) of Central Okanagan townhomes decreased 35% in July 2021 compared to July of last year, with 41 DOM in July 2021 versus July of 2020's 63 DOM.

Condos

Sales of Central Okanagan condos were 18% higher in July of 2021 compared to July of last year, with 177 sold this July compared to July of 2020's 150. 

The number of new condo listings in the Central Okanagan decreased by 32% in July 2021 from this time last year, with 186 listings in this July versus last July's 274.

The average prices of Central Okanagan condos increased 21% this July compared to July of 2020, coming in at $434,402 in July of 2021 compared to last July's $360,253.

The average days on market (DOM) of condos in the Central Okanagan fell 56% in July 2021 compared to July of last year, with 36 DOM in July 2021 versus July of 2020's 81 DOM.

Get in touch with Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, if you have any questions or would like to talk about next steps in buying or selling a home. He can be reached by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
July 8, 2021

Central Okanagan Real Estate Market Statistics: June 2021

June 2021 Central Okanagan Real Estate Market Statistics

Single-Family Residential Homes

Real estate sales of single-family residential homes in the Central Okanagan increased 32% in June 2021 compared to June of 2020, with 344 homes sold in June 2021 versus June of 2020's 261. While it is still a market that favors sellers, we are seeing a gradual slowdown from last month's numbers. Year-over-year comparisons are still comparing sales with 2020's more restrictive months of the pandemic and do not reflect normal market fluctuations. 

The number of new listings of single-family residential homes in the Central Okanagan experienced a slight decrease of 3% this June compared to June of 2020, with 457 new listings this June compared to last June's 469.

The average price of Central Okanagan single-family residential homes increased 33% in June 2021 compared to June of last year, coming in at $996,331 versus June of 2020's $748,426. This month's average price slightly decreased from last month, the first decrease in price we've seen in months.

The average days on market (DOM) of Central Okanagan single-family residential homes decreased 64% in June 2021 compared to this time last year, with 22 DOM in June 2021 versus June of 2020's 61 DOM.

Townhomes

Townhome sales in the Central Okanagan were 30% higher in June 2021 compared to June of last year, with 100 townhomes sold this June versus last June's 77. 

The number of new townhome listings in the Central Okanagan decreased by 19% this June compared to this time last year, with 122 new listings this June compared to last June's 150.

The average price of townhomes in the Central Okanagan increased by 21% this June compared to June of last year, coming in at $634,840 this June compared to last June's $524,538.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 66% in June 2021 compared to this time last year, with 25 DOM in June 2021 versus June of 2020's 73 DOM.

Condos

Central Okanagan condo sales were 113% higher in June of 2021 compared to June of last year, with 207 sold this June compared to June of 2020's 97. 

The number of new condo listings in the Central Okanagan decreased by 18% in June 2021 from this time last year, with 228 listings in this June versus last June's 279.

The average price of condos in the Central Okanagan increased by 30% this June compared to June of last year, coming in at $442,089 in June of 2021 compared to June of 2020's $339,241.

The average days on market (DOM) of condos in the Central Okanagan decreased 48% in June 2021 compared to this time last year, with 33 DOM in June 2021 versus June of 2020's 63 DOM.

Contact Jeff Creamer, Realtor with Royal LePage Kelowna, if you would like to talk about what's next in selling or buying a home. Call 250-575-7112 or email jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
June 14, 2021

Central Okanagan Real Estate Market Statistics: May 2021

Central Okanagan Real Estate Market Statistics: May 2021

Single-Detached Residential Homes

Real estate sales of single-detached residential homes in the Central Okanagan increased 141% in May of 2021 compared to May of 2020, with 335 homes sold this May versus last May's 139. As was the case with April of 2021's statistics, this substantial increase from last year is due to pandemic lockdown restrictions in May of 2020 and does not reflect typical changes in the real estate market. On a month-to-month basis, this month's numbers are showing signs of the start of a slowdown.

The number of new listings of single-detached homes in the Central Okanagan increased by 26% this May compared to May of 2020, with 471 new listings this May compared to last May's 374.

The average price of Central Okanagan single-detached residential homes increased 38% in May 2021 compared to May of last year, coming in at $997,541 versus May of 2020's $724,767.

The average days on market (DOM) of Central Okanagan single-detached residential homes decreased 62% in May 2021 compared to this time last year, with 24 DOM in May 2021 versus May of 2020's 63 DOM.

Townhomes

Townhome sales in the Central Okanagan were 124% higher in May 2021 compared to May of last year, with 121 townhomes sold this May versus last May's 54. 

The number of new townhome listings in the Central Okanagan increased by 18% this May compared to this time last year, with 156 new listings this May compared to last May's 132.

The average price of townhomes in the Central Okanagan increased by 36% this May compared to May of last year, coming in at $652,486 this May compared to last May's $480,139.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 66% in May 2021 compared to this time last year, with 23 DOM in May 2021 versus May of 2020's 68 DOM.

Condos

Central Okanagan condo sales were 333% higher in May of 2021 compared to May of last year, with 234 sold this May compared to May of 2020's 54. 

The number of new condo listings in the Central Okanagan increased by 46% in May 2021 from this time last year, with 262 listings in this May versus last May's 179.

The average price of condos in the Central Okanagan increased by 36% this May compared to May of last year, coming in at $438,420 in May of 2021 compared to May of 2020's $321,526.

The average days on market (DOM) of condos in the Central Okanagan decreased 63% in May 2021 compared to this time last year, with 30 DOM in May 2021 versus May of 2020's 82 DOM.

If you have questions, or if you would like to talk about what's next in selling or buying a home, get in touch with Jeff Creamer by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Posted in Market Reports
May 7, 2021

Central Okanagan Real Estate Market Statistics: April 2021

Central Okanagan Real Estate Market Statistics: March 2021Single-Detached Residential Homes

Despite low listing inventory, Central Okanagan real estate sales of single-detached residential homes experienced another month of record highs in April of 2021, increasing 294% since April of 2020, with 398 homes sold in April 2021 versus April of 2020's 37. This substantial increase from last year is due to quarantine lockdown restrictions imposed during April of last year and does not reflect typical market changes.

Accordingly, the number of new listings of single-detached homes in the Central Okanagan increased by 93% this April compared to April of 2020, with 504 new listings this April compared to last April's 266.

The average price of Central Okanagan single-detached residential homes increased 37% in April 2021 compared to April of last year, coming in at $974,471 versus April of 2020's $712,840.

The average days on market (DOM) of Central Okanagan single-detached residential homes decreased 62% in April 2021 compared to this time last year, with a mere 23 DOM in April 2021 versus April of 2020's 61 DOM.

Townhomes

Townhome sales in the Central Okanagan were 218% higher in April 2021 compared to April of last year, with 127 townhomes sold this April versus last April's 40. 

The number of new townhome listings in the Central Okanagan increased by 41% this April compared to this time last year, with 140 new listings this April compared to last April's 99.

The average price of townhomes in the Central Okanagan increased by 29% this April compared to April of last year, coming in at $641,003 this April compared to last April's $498,853.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 33% in April 2021 compared to this time last year, with 38 DOM in April 2021 versus April of 2020's 57 DOM.

Condos

Central Okanagan condo sales were 573% higher in April of 2021 compared to April of last year, with 249 sold this April compared to April of 2020's 37. 

The number of new condo listings in the Central Okanagan increased by 156% in April 2021 from this time last year, with 297 listings in this April versus last April's 116.

The average price of condos in the Central Okanagan increased by 30% this April compared to April of last year, coming in at $435,301 in April of 2021 compared to April of 2020's $335,673.

The average days on market (DOM) of condos in the Central Okanagan decreased 36% in April 2021 compared to this time last year, with 38 DOM in April 2021 versus April of 2020's 59 DOM.

If you have any questions, or if you are ready to talk about what's next in buying or selling a home, contact Jeff Creamer by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors

Posted in Market Reports
April 8, 2021

Central Okanagan Real Estate Market Statistics: March 2021

Central & Southern Okanagan Real Estate Market Statistics: March 2021

Single-Detached Residential Homes

Central Okanagan real estate sales of single-detached residential homes experienced another month of record highs in March of 2021, increasing 135% since March of last year, with 413 homes sold in March 2021 versus March of 2020's 176. Economic recovery, low mortgage rates and buyers seeking more space due to the pandemic have heavily impacted demand, while inventory remains low. 

The number of new listings of single-detached homes in the Central Okanagan increased by 20% this March from March of 2020, with 504 new listings this March compared to last March's 419.

The average price of Central Okanagan single-detached residential homes increased 35% in March 2021 compared to March of last year, coming in at a whopping $967,492 versus March of 2020's $718,009.

The average days on market (DOM) of Central Okanagan single-detached residential homes decreased 48% in March 2021 compared to this time last year, with 33 DOM in March 2021 versus March of 2020's 63 DOM.

Townhomes

Townhome sales in the Central Okanagan were 101% higher in March 2021 compared to March of last year, with 149 townhomes sold this March versus last March's 74. 

The number of new townhome listings in the Central Okanagan increased by 3% this March compared to this time last year, with 151 listings in March of 2021 versus March of 2020's 147.

The average price of townhomes in the Central Okanagan increased by 24% this March compared to March of last year, coming in at $640,484 this March compared to last March's $514,850.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 48% in March 2021 compared to this time last year, with 38 DOM in March 2021 versus March of 2020's 73 DOM.

Condos

Central Okanagan condo sales were 193% higher in March of 2021 compared to March of last year, with 267 sold this March compared to March of 2020's 91. 

The number of new condo listings in the Central Okanagan increased by 28% in March 2021 from this time last year, with 318 listings in this March versus last March's 249.

The average price of condos in the Central Okanagan increased by 29% this March compared to March of last year, coming in at $429,369 in March of 2021 compared to March of 2020's $331,953.

The average days on market (DOM) of condos in the Central Okanagan decreased 29% in March 2021 compared to this time last year, with 42 DOM in March 2021 versus March of 2020's 59 DOM.

Questions? Or would you like to talk about next steps in buying or selling a home? Contact Jeff Creamer by phone at 250-575-7112 or by filling out this Contact form.

Source: Association of Interior Realtors

Posted in Market Reports
March 5, 2021

Central Okanagan Real Estate Market Statistics: February 2021

Central Okanagan Real Estate Market Statistics: February 2021

Single-Detached Residential Homes

Real estate sales of single-detached residential homes in the Central Okanagan experienced record highs in February of 2021, increasing 136% from February of last year, with 288 homes sold in February 2021 versus February of 2020's 122. Sales increases in recreational and vacation homes have greatly contributed to these sales increases, with people creating vacation opportunities within BC due to COVID-19 restrictions. 

The number of new listings of single-detached homes in the Central Okanagan increased by 22% this February from February of 2020, with 349 new listings this February compared to last February's 287. Shortage of inventory has been an issue with supply struggling to meet demand.

The average price of single-detached residential homes in the Central Okanagan increased 23% in February 2021 compared to February of last year, coming in at $904,926 versus February of 2020's $734,787.

The average days on market (DOM) of single-detached residential homes in the Central Okanagan decreased 42% in February 2021 compared to this time last year, with 43 DOM in February 2021 versus February of 2020's 74 DOM.

Townhomes

Townhome sales in the Central Okanagan were 146% higher in February 2021 than February of last year, with 123 townhomes sold this February versus last February's 50. 

The number of new townhome listings in the Central Okanagan decreased by 5% this February compared to this time last year, with 124 listings in February of 2021 versus February of 2020's 131.

The average price of townhomes in the Central Okanagan increased by 22% this February compared to February of last year, coming in at $615,419 this February compared to last February's $503,487.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 27% in February 2021 compared to this time last year, with 44 DOM in February 2021 versus February of 2020's 60 DOM.

Condos

Central Okanagan condo sales were 108% higher in February of 2021 compared to February of last year, with 183 sold this February compared to February of 2020's 88. 

The number of new condo listings in the Central Okanagan increased by 36% from this time last year, with 240 listings in February of 2021 versus February of 2020's 177.

The average price of condos in the Central Okanagan increased by 17% this February compared to February of last year, coming in at $411,807 in February of 2021 compared to February of 2020's $351,814.

The average days on market (DOM) of condos in the Central Okanagan decreased 8% in February 2021 compared to this time last year, with 66 DOM in February 2021 versus February of 2020's 72 DOM.

Questions? Or would you like to discuss next steps on 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.

Source: Association of Interior Realtors

Posted in Market Reports
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