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
Feb. 11, 2020

Central Okanagan Real Estate Market Statistics: January 2020

Residential real estate sales in the Central Okanagan decreased 9% in January from December, with 250 sold in January compared to December's 271. While down from last month, January residential real estate sales were up by 26% from January of 2019's 192. 

The average price of a single-detached residential home in the Central Okanagan increased by 5% this January versus last January, coming in at $724,387 compared to January of 2019's $688,886. Conversely, the average price of townhomes experienced a decrease, coming in at $457,615, a 6% decrease from last year's $489,037. The average price of condos increased 14% in January to $382,445 from last January's $336,258. 

The number of new residential listings increased dramatically by 78% from December, with 549 new listings in January compared to December's 308. This dramatic jump from December to January is typical for the new year. New listings this January were 17% lower than last January's 665. 

The average days on market (DOM) decreased 5% in January to 80 DOM from December's 84 and on par with last January's 80 DOM. 

If you have any questions on the numbers above or would like to chat about 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: January 2020

Posted in Market Reports
Jan. 27, 2020

Central Okanagan Real Estate Weekly Market Snapshot: January 20-26, 2020

Here are the weekly market statistics for home sales, expired and new listings in Kelowna, West Kelowna and Peachland for January 20 to January 26, 2020.

Central Okanagan Real Estate Weekly Market Snapshot: January 20-26, 2020

View the latest MLS listings at the following links:

Kelowna

West Kelowna

Westbank

Peachland

Lake Country

Big White

If you have any questions or would like to discuss next steps in buying or selling a home, contact Jeff Creamer by filling out this form, calling 250-575-7112 or emailing jeff@shopkelownahomes.com. Happy house hunting!

Posted in Market Reports
Jan. 20, 2020

Central Okanagan Real Estate Weekly Market Snapshot: January 13-19, 2020

Here are the weekly market statistics for home sales, expired and new listings in Kelowna, West Kelowna and Peachland for January 13 to January 19, 2020.

Central Okanagan Real Estate Weekly Market Snapshot: January 20-26, 2020

View all the latest listings at the following links:

Kelowna

West Kelowna

Westbank

Peachland

Lake Country

Big White

If you have any questions or would like to discuss next steps in your search for a new home, contact Jeff Creamer by filling out this form, calling 250-575-7112 or emailing jeff@shopkelownahomes.com. Happy house hunting!

Posted in Market Reports
Jan. 13, 2020

Central Okanagan Real Estate Weekly Market Snapshot: January 6-12, 2020

Here are the weekly market statistics for home sales, expired and new listings in Kelowna, West Kelowna and Peachland for January 6 to January 12, 2020.

Central Okanagan Real Estate Market Snapshot: January 6-12, 2020

View all the latest listings at the links below:

Kelowna

West Kelowna

Westbank

Peachland

Lake Country

Big White

If you have any questions or would like to discuss next steps in your search for a new home, feel free to contact Jeff Creamer by filling out this form, calling 250-575-7112 or emailing jeff@shopkelownahomes.com. Happy house hunting!

Posted in Market Reports
Jan. 10, 2020

Central Okanagan Real Estate Market Statistics: December 2019

In December, residential real estate sales in the Central Okanagan decreased 31% from November 2019, with 271 sold in December versus November's 383. While down from last month, December residential real estate sales were up by 33% from December of 2018's 194. The strong increase in sales from last year over the last few months is a strong indicator of market recovery.

The average price of a single-detached residential home in the Central Okanagan slightly increased by 1.7% in December, coming in at $679,304 versus December of 2018's $668,199. The average price of townhomes also experienced a slight increase, coming in at $489,376, a 2.3% increase from last year's $478,500. The average price of condos increased 20% in December to $363,855 from last December's $297,189. 

The number of new residential listings decreased by 45% from November, with 308 new listings in December compared to November's 486. New listings were mostly on par with December of 2018's 312. The low number of new listings from last month is typical for December, the busiest holiday month of the year.

The average days on market (DOM) increased by 10% in December to 84 DOM from November's 76 and was 9% higher than last December's 77 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 email Jeff Creamer at jeff@shopkelownahomes.com or call 250-575-7112. Enjoy weekly updates on the Central Okanagan real estate market by following Jeff on Facebook, Instagram and Twitter.

Central Okanagan Real Estate Market Statistics: December 2019

Posted in Market Reports