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