Overall, residential sales in the Central Okanagan Real Estate Market increased by 13% to 511 from June's 451. Compared to this time last year, sales increased by 17% from July of 2018's 432.
The average price of single-detached residential declined 9.2% in July to $713,290 compared to July of 2018's $782,108. The average price of townhomes only decreased by .06% to $517,908 from last year's $518,211, while the average price of condos increased 5.5% to $362,685 from July of 2018's $343,315.
The number of new residential listings in the Central Okanagan real estate market decreased 13% to 841 from June's 961 and is down by 19% compared to July of 2018's 976.
The average days on market (DOM) decreased 3.6% to 81 from June's 84 but was still 57% higher than July of last year's 45 DOM.
If these numbers bring any questions to mind or if you would like to discuss what's next in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at firstname.lastname@example.org or call 250-575-7112. Enjoy weekly updates on the Central Okanagan real estate market by following Jeff on Facebook, Instagram and Twitter.