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