March 9, 2023

Central Okanagan / Kelowna Real Estate Market Statistics: February 2023

Central Okanagan / Kelowna Real Estate Market Statistics: February 2023Central Okanagan / Kelowna Real Estate Market Summary: February 2023

February 2023 Okanagan / Kelowna residential real estate sales of single-family homes, townhomes, and condos continued to experience declines across all housing types when compared to last year. The number of new listings for all housing types only decreased slightly since last year. Average prices are starting to decrease across the board, with only a slight decrease in the average price of townhomes and slightly larger increases in single-family homes and condos (15% and 11%, respectively). Average days on market (DOM) continued to rise substantially year-over-year across all housing types, with condos experiencing the most significant increase (130%).

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased by 47% in February 2023 compared to February of 2022, with 123 homes sold in February 2023 versus February of 2022's 231.

The number of new listings of single-family homes in the Central Okanagan slightly decreased in February 2023 compared to February of 2022, with 311 new residential listings this February compared to last February's 314 new listings.

The average price of single-family homes in the Central Okanagan decreased by 15% in February 2023 since February of last year, coming in at $1,061,756 versus February of 2022's $1,251,713. 

The average days on market (DOM) of single-family homes in the Central Okanagan significantly increased by 126% in February 2023 compared to February of 2022, with 61 DOM this February versus last February's 27 DOM; however, DOM is decreasing month-over-month.

Townhomes

Sales of Central Okanagan townhomes significantly declined by 60% in February 2023 since February of 2022, with 39 townhomes sold this February versus last February's 98. 

The number of new townhome listings in the Central Okanagan decreased 3% this February since February of 2022, with 96 new listings this February compared to last February's 99.

The average price of townhomes in the Central Okanagan slightly decreased by .6% this February compared to February of last year, coming to $760,867 in February of 2023 versus February of 2022's $765.070. 

The average days on market (DOM) of townhomes in the Central Okanagan increased by 68% this February compared with February of last year, with 42 DOM in February of 2023 versus 25 DOM in 2022.

Condos

Condo sales in the Central Okanagan decreased by 56% in February of 2023 compared to February of last year, with 74 condos sold this February compared last February's 167. 

The number of new condo listings in the Central Okanagan only slightly decreased by 1% in February 2023 compared to this time last year, with 190 new condo listings this February compared to 192 new listings last February.

The average price of Central Okanagan condos decreased 11% this February compared to February of 2022, coming in at $469,511 in February of 2023 compared to last February's $525,350.

The average days on market (DOM) of condos in the Central Okanagan significantly increased by 130% in February 2023 compared with February of last year, with 76 DOM in February of 2023 versus last February's 33 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
no comments yet
Feb. 7, 2023

Central Okanagan / Kelowna Real Estate Market Statistics: January 2023

Central Okanagan / Kelowna Real Estate Market Statistics: January 2023Central Okanagan / Kelowna Real Estate Market Summary: January 2023

January 2023 Okanagan / Kelowna residential real estate sales of single-family homes, townhomes and condos continued to significantly decline across the board. Conversely, the number of new listings increased across all housing types, with the greatest increase in the number of new condo listings. For the first time in several months, the average price of single family homes and condos actually decreased, with only townhomes experiencing a small increase in price. Average days on market (DOM) continued to significantly increase in January 2023 across all housing types, with single family homes experiencing the most significant increase. 

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan drastically decreased by 60% in January 2023 compared to January of 2022, with only 63 homes sold in January 2023 versus January of 2022's 157.

The number of new listings of single-family homes in the Central Okanagan increased by 8% this January since January of 2022, with 244 new residential listings this January compared to last January's 225 new listings.

The average price of single-family homes in the Central Okanagan experienced a decrease of 14% in January 2023 versus January of last year, coming in at $947,774 versus January of 2022's $1,098,337. 

The average days on market (DOM) of single-family homes in the Central Okanagan significantly increased by 125% in January 2023 compared to January of 2022, with 81 DOM this January versus last January's 36 DOM.

Townhomes

Sales of Central Okanagan townhomes declined 46% in January 2023 since January of 2022, with 36 townhomes sold this January versus last January's 67. 

The number of new townhome listings in the Central Okanagan increased 24% this January since January of 2022, with 104 new listings this January compared to last January's 84.

The average price of townhomes in the Central Okanagan increased by 8% this January compared to January of last year, coming to $719,898 in January of 2023 versus January of 2022's $667,000. 

The average days on market (DOM) of townhomes in the Central Okanagan increased by 51% this January compared with January of last year, with 56 DOM in January of 2023 versus 37 DOM in 2022.

Condos

Condo sales in the Central Okanagan decreased by 50% in January of 2023 compared to January of last year, with 52 condos sold this January compared last January's 103. 

The number of new condo listings in the Central Okanagan increased 33% in January 2023 compared to this time last year, with 172 new condo listings this January compared to 129 new listings last January.

The average price of Central Okanagan condos decreased 12% this January compared to January of 2022, coming in at $470,173 in January of 2023 compared to last January's $533,004.

The average days on market (DOM) of condos in the Central Okanagan increased by 51% in January 2023 compared with January of last year, with 65 DOM in January of 2023 versus last January's 43 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
no comments yet
Jan. 10, 2023

Central Okanagan / Kelowna Real Estate Market Statistics: December 2022

Central Okanagan / Kelowna Real Estate Market Statistics: December 2022Central Okanagan / Kelowna Real Estate Market Summary: December 2022

Sales of Okanagan / Kelowna residential real estate single-family homes, townhomes and condos continued to fall in December 2022, with the most significant decline in condo sales. The number of new listings also fell across all housing types, with the greatest decline in new condo listings. Despite these declines, prices continued to increase, although only slightly, across all housing types. Average days on market (DOM) significantly increased in December 2022 across all housing types, with the most substantial increase in DOM in condo sales. The Christmas season can influence these numbers greatly, with buyers and sellers focusing more on Christmas shopping than home shopping throughout the month.

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased 43% in December 2022 compared to December of 2021, with 86 homes sold in December 2022 versus December of 2021's 152.

The number of new listings of single-family homes in the Central Okanagan decreased 3% this December since December of 2021, with 128 new residential listings this December compared to last December's 132 new listings.

The average price of single-family homes in the Central Okanagan experienced a slight 1% increase in December 2022 versus December of last year, coming in at $1,022,234 versus December of 2021's $1,010,128. 

The average days on market (DOM) of single-family homes in the Central Okanagan increased 68% in December 2022 compared to December of 2021, with 64 DOM this December versus last December's 38 DOM.

Townhomes

Sales of Central Okanagan townhomes decreased 32% in December 2022 since December of 2021, with 36 townhomes sold this December versus last December's 53. 

The number of new townhome listings in the Central Okanagan decreased 5% this December since December of 2021, with 41 new listings this December compared to last December's 43.

The average price of townhomes in the Central Okanagan increased by 4% this December compared to December of last year, coming to $723,784 in December of 2022 versus December of 2021's $697,817. 

The average days on market (DOM) of townhomes in the Central Okanagan increased by 55% this December compared with December of last year, with 62 DOM in December of 2022 versus 40 DOM in 2021.

Condos

Condo sales in the Central Okanagan decreased by 57% in December of 2022 compared to December of last year, with 47 condos sold this December compared last December's 109. 

The number of new condo listings in the Central Okanagan decreased 43% in December 2022 compared to this time last year, with 64 new condo listings this December compared to 113 new listings last December.

The average prices of Central Okanagan condos increased 3% this December compared to December of 2021, coming in at $525,740 in December of 2022 compared to last December's $509,335.

The average days on market (DOM) of condos in the Central Okanagan significantly increased by 84% in December 2022 compared with December of last year, with 57 DOM in December of 2022 versus last December's 31 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
no comments yet
Dec. 12, 2022

Central Okanagan / Kelowna Real Estate Market Statistics: November 2022

Central Okanagan / Kelowna Real Estate Market Statistics: November 2022Central Okanagan / Kelowna Real Estate Market Summary: November 2022

Okanagan / Kelowna residential real estate market sales of single-family homes, townhomes and condos continued to decline in November 2022, coming in at around 50% less than this time last year across all housing types. The number of new listings also declined across all housing types, with the number of new condo listings having the largest decline (18%). Home prices rose across all housing types, while only slightly for single-family homes. Average days on market (DOM) significantly increased in November 2022 for single-family homes and condos, while DOM for townhomes remained on par with last year.

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased 52% in November 2022 compared to November of 2021, with 120 homes sold in November 2022 versus November of 2021's 252.

The number of new listings of single-family homes in the Central Okanagan decreased 8% this November since November of 2021, with 210 new residential listings this November compared to last November's 226 new listings.

The average price of single-family homes in the Central Okanagan experienced a slight 1% increase in November 2022 versus November of last year, coming in at $1,073,250 versus November of 2021's $1,063,538. 

The average days on market (DOM) of single-family homes in the Central Okanagan increased 58% in November 2022 compared to November of 2021, with 57 DOM this November versus last November's 36 DOM.

Townhomes

Sales of Central Okanagan townhomes decreased 49% in November 2022 since November of 2021, with 34 townhomes sold this November versus last November's 67. 

The number of new townhome listings in the Central Okanagan decreased 8% this November since November of 2021, with 72 new listings this November compared to last November's 78.

The average price of townhomes in the Central Okanagan slightly increased by 12% this November compared to November of last year, coming to $776,996 in November of 2022 versus November of 2021's $692,420. 

The average days on market (DOM) of townhomes in the Central Okanagan this November remained on par with November of last year, with 51 DOM in November of 2022 and 2021.

Condos

Condo sales in the Central Okanagan decreased by 50% in November of 2022 compared to November of last year, with 72 condos sold this November compared last November's 164. 

The number of new condo listings in the Central Okanagan decreased 18% in November 2022 compared to this time last year, with 146 new condo listings this November compared to 178 new listings last November.

The average prices of Central Okanagan condos increased 7% this November compared to November of 2021, coming in at $537,024 in November of 2022 compared to last November's $502,567.

The average days on market (DOM) of condos in the Central Okanagan increased 39% in November 2022 compared with November of last year, with 51 DOM in November of 2022 versus last November's 31 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
no comments yet
Nov. 4, 2022

Central Okanagan / Kelowna Real Estate Market Statistics: October 2022

Central Okanagan Real Estate Market Statistics: October 2022Central Okanagan / Kelowna Real Estate Market Summary:
October 2022

October 2022 Okanagan / Kelowna residential real estate market sales of single-family homes, townhomes and condos continued to experience significant declines compared with this time last year. New listings of single-family homes and townhomes continued to increase, while new condo listings declined slightly since October of last year. Prices continued to increase slightly for single-family homes and condos, while the average price of townhomes slightly decreased. Average days on market (DOM) significantly increased in October 2022 across all housing types.

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased 49% in October 2022 compared to October of 2021, with 126 homes sold in October 2022 versus October of 2021's 250.

The number of new listings of single-family homes in the Central Okanagan increased 9% this October since October of 2021, with 368 new residential listings this October compared to last October's 339 new listings.

The average price of single-family homes in the Central Okanagan increased 6% in October 2022 since October of last year, coming in at $1,091,603 versus October of 2021's $1,031,723. 

The average days on market (DOM) of single-family homes in the Central Okanagan increased 39% in October 2022 compared to October of 2021, with 46 DOM in October 2022 versus last October's 33 DOM.

Townhomes

Sales of Central Okanagan townhomes decreased 51% in October 2022 since October of 2021, with 45 townhomes sold this October versus last October's 91. 

The number of new townhome listings in the Central Okanagan increased 19% this October since October of 2021, with 126 new listings this October compared to last October's 106.

Surprisingly, the average price of townhomes in the Central Okanagan slightly decreased by 1% this October compared to October of last year, coming to $671,290 in October 2022 versus October of 2021's $677,672. 

The average days on market (DOM) of townhomes in the Central Okanagan significantly increased by 47% in October 2022 compared to October of last year, with 53 DOM in October 2022 versus October of 2021's 36 DOM.

Condos

Condo sales in the Central Okanagan decreased 39% in October of 2022 compared to October of last year, with 94 condos sold this October compared last October's 155. 

The number of new condo listings in the Central Okanagan decreased 9% in October 2022 compared to this time last year, with 167 new condo listings this October compared to 184 new listings last October.

The average prices of Central Okanagan condos increased 7% this October compared to October of 2021, coming in at $525,020 in October of 2022 compared to last October's $492,384.

The average days on market (DOM) of condos in the Central Okanagan experienced a significant increase of 50% in October 2022 compared with October of last year, with 54 DOM in October of 2022 versus last October's 37 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
no comments yet
Oct. 5, 2022

Central Okanagan / Kelowna Real Estate Market Statistics: September 2022

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

Residential real estate sales in the Central Okanagan / Kelowna real estate market continued to decline in September 2022 across all housing types. New listings of single-family homes and townhomes continue to rise, while new condo listings fell slightly since September of last year. Despite declines in home sales, prices continue to rise for all housing types, although only slightly for single-family homes. Average days on market (DOM) increased in September 2022 across all housing types, with a significant increase in DOM for single-family homes.

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased 36% in September 2022 compared to September of 2021, with 155 homes sold in September 2022 versus September of 2021's 242.

The number of new listings of single-family homes in the Central Okanagan increased 16% this September since September of 2021, with 401 new residential listings this September compared to last September's 347 new listings.

The average price of single-family homes in the Central Okanagan increased 6% in September 2022 since September of last year, coming in at $1,090,830 versus September of 2021's $1,028,021. 

The average days on market (DOM) of single-family homes in the Central Okanagan increased 66% in September 2022 compared to September of 2021, with 48 DOM in September 2022 versus last September's 29 DOM.

Townhomes

Sales of Central Okanagan townhomes decreased 37% in September 2022 since September of 2021, with 47 townhomes sold this September versus last September's 75. 

The number of new townhome listings in the Central Okanagan increased 19% this September since September of 2021, with 122 new listings this September compared to last September's 103.

The average price of townhomes in the Central Okanagan increased 17% this September compared to September of last year, coming to $787,794 in September 2022 versus September of 2021's $675,248. 

The average days on market (DOM) of townhomes in the Central Okanagan increased by 10% in September 2022 compared to September of last year, with 43 DOM in September 2022 versus September of 2021's 39 DOM.

Condos

Condo sales in the Central Okanagan decreased 37%  in September of 2022 compared to September of last year, with 102 condos sold this September compared last September's 163. 

The number of new condo listings in the Central Okanagan experienced a slight 2% decrease in September 2022 compared to this time last year, with 198 new condo listings this September compared to 202 new listings last September.

The average prices of Central Okanagan condos increased 23% this September compared to September of 2021, coming in at $585,664 in September of 2022 compared to last September's $475,605.

The average days on market (DOM) of condos in the Central Okanagan increased by 14% in September 2022 compared with September of last year, with 42 DOM in September of 2022 versus last September's 37 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
no comments yet
Sept. 6, 2022

Central Okanagan / Kelowna Real Estate Market Statistics: August 2022

Central Okanagan / Kelowna Real Estate Market Overview: August 2022Central Okanagan / Kelowna Real Estate Market Overview: August 2022

In August 2022, residential real estate sales in the Central Okanagan / Kelowna real estate market continued to fall while the number of listings rose across all housing types. Despite continued declines in sales, prices  are higher across all housing types compared with this time last year, with slight increases in the average price of single-family homes and townhomes and a significant increase in the average price of condos. Average days on market (DOM) increased in August 2022 across all housing types, with a significant increase in DOM for townhomes.

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased 28% in August 2022 versus August of 2021, with 170 homes sold in August 2022 versus August of 2021's 237.

The number of new listings of single-family homes in the Central Okanagan increased 25% this August compared to August of 2021, with 424 new residential listings this August compared to last August's 339 new listings.

The average price of single-family homes in the Central Okanagan increased 9% in August 2022 since August of last year, coming in at $1,046,552 versus August of 2021's $1,001,553. 

The average days on market (DOM) of single-family homes in the Central Okanagan increased 40% in August 2022 compared to August of 2021, with 42 DOM in August 2022 versus last August's 30 DOM.

Townhomes

Sales of Central Okanagan townhomes decreased 29% in August 2022 since August of 2021, with 54 townhomes sold this August versus last August's 76. 

The number of new townhome listings in the Central Okanagan experienced an increase of 16% this August since August of 2021, with 112 new listings this August compared to last August's 97.

The average price of townhomes increased 9% this August in the Central Okanagan compared to August of last year, coming to $746,631 in August 2022 versus August of 2021's $686,626. 

The average days on market (DOM) of townhomes in the Central Okanagan significantly increased by 84% in August 2022 compared to August of last year, with 57 DOM in August 2022 versus August of 2021's 31 DOM.

Condos

Condo sales in the Central Okanagan in August of 2022 decreased 25% compared to August of last year, with 126 condos sold this August compared last August's 167. 

The number of new condo listings in the Central Okanagan increased 28% in August 2022 compared to this time last year, with 221 new condo listings in August of 2022 compared to 173 new listings in August of 2021.

The average prices of Central Okanagan condos increased 52% this August compared to August of 2021, coming in at $682,653 in August of 2022 compared to last August's $447,896.

The average days on market (DOM) of condos in the Central Okanagan in August 2022 increased by 11%compared with August of last year, with 40 DOM in August of 2022 versus last August's 36 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
no comments yet
Aug. 15, 2022

Central Okanagan / Kelowna Real Estate Market Statistics: July 2022

Central Okanagan / Kelowna Real Estate Market Overview: July 2022Central Okanagan / Kelowna Real Estate Market Overview: July 2022

Residential real estate sales in the Central Okanagan / Kelowna real estate market continued to decline in July 2022 across all housing types, with significant declines in townhome and condo sales. Increases in interest rates and travel could be contributing factors to market activity being below normal for this time of year. The number of listings of single-family homes and condos increased compared with July 2021, while the number of new townhome listings were a bit lower than last year (4%). Despite decreased sales, prices for all housing types are higher compared with this time last year although only slightly for single-family homes and townhomes. Average days on market (DOM) continued to increase this July for single-family homes while declining for townhomes and remaining on par for condos when compared with July of 2021.

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased 8% in July 2022 versus July of 2021, with 124 homes sold in July 2022 versus July of 2021's 135.

The number of new listings of single-family homes in the Central Okanagan increased 48% this July compared to July of 2021, with 468 new residential listings this July compared to last July's 317 new listings.

The average price of single-family homes in the Central Okanagan increased 7% in July 2022 since July of last year, coming in at $1,077,431 versus July of 2021's $1,011,776. 

The average days on market (DOM) of single-family homes in the Central Okanagan increased 23% in July 2022 compared to July of 2021, with 37 DOM in July 2022 versus last July's 30 DOM.

Townhomes

Sales of Central Okanagan townhomes decreased 47% in July 2022 since July of 2021, with only 52 townhomes sold this July versus last July's 98. 

The number of new townhome listings in the Central Okanagan experienced a slight decrease of 4% this July since July of 2021, with 102 new listings in July of 2022 compared to last July's 106.

The average price of townhomes increased 5% this July in the Central Okanagan compared to July of last year, coming to $707,297 this July versus last July's $675,794. 

The average days on market (DOM) of townhomes in the Central Okanagan decreased 21% in July 2022 compared to July of last year, with 33 DOM in July 2022 versus July of 2021's 42 DOM.

Condos

Condo sales in the Central Okanagan in July of 2022 decreased 52% compared to July of last year, with only 85 condos sold this July compared last July's 176. 

The number of new condo listings in the Central Okanagan increased 12% in July 2022 compared to this time last year, with 208 new condo listings in July of 2022 compared to 186 new listings in July of 2021.

The average prices of Central Okanagan condos increased 19% this July compared to July of 2021, coming in at $517,384 in July of 2022 compared to last July's $434,484.

The average days on market (DOM) of condos in the Central Okanagan in July 2022 remained on par with July of last year, with 36 DOM in July of 2022 and 2021.

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
no comments yet
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
no comments yet
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
no comments yet

Recent Blog Posts

Categories

Follow Us On