Single-Family Residential Homes
Residential real estate sales in the Central Okanagan of single-family residential homes decreased 20% in February 2022 compared to February of 2021, with 231 homes sold in February 2022 versus February of 2021's 288.
The number of new listings of single-family homes in the Central Okanagan also decreased 10% this February since February of 2021, with 314 new listings this February versus last February's 349.
The average price of single-family homes in the Central Okanagan increased 38% in February 2022 compared to February of last year, coming in at an record of $1,251,713 versus February of 2021's $904,864.
The average days on market (DOM) of single-family homes in the Central Okanagan decreased 37% in February 2022 compared to this time last year, with 27 DOM in February 2022 versus February of 2021's 43 DOM.
Townhomes
Central Okanagan townhome sales decreased 20% in February 2022 compared to February of 2021, with 99 townhomes sold this February versus last February's 124.
The number of new townhome listings in the Central Okanagan also decreased by 20% this February compared to this time last year, with 99 new listings this February compared to last February's 124.
The average price of townhomes increased 25% this February in the Central Okanagan compared to February of last year, coming to $767,120 this February compared to last February's $569,000.
The average days on market (DOM) of townhomes in the Central Okanagan decreased 34% in February 2022 compared to February of last year, with 29 DOM in February 2022 compared to February of 2021's 44 DOM.
Condos
Central Okanagan condo sales in February of 2022 decreased 9% compared to February of last year, with 167 sold this February compared last February's 183.
The number of new condo listings in the Central Okanagan decreased 20% in February 2022 compared to this time last year, with 192 new condo listings in February of 2022 compared to 240 new listings in February of 2021.
The average prices of Central Okanagan condos increased 28% this February compared to February of 2021, coming in at $525,350 in February of 2022 compared to last February's $411,807.
The average days on market (DOM) of condos in the Central Okanagan fell 50% in February 2022 compared to February of last year, with 33 DOM in February 2022 versus February of 2021's 66 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