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 email@example.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.