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 Facebook, Instagram and Twitter.
