Residential real estate sales in the Central Okanagan continued to rise in July of 2020, boasting a 43% increase compared to last month, with 690 sold versus June's 483. Home sales in July of 2020 were also up by 35% compared to this time last year, which came to 510.
The average price of a single-detached residential home in the Central Okanagan increased by 15% in July of 2020 compared to this time last year, coming to $812,875 compared to July of 2019's $712,649. The average price of a townhome increased by 6.2% compared to last year, coming to $550,230 compared to July of 2019's $517,908. Conversely, the average price of a condo remained mostly on par with the average price from last year, decreasing by less than 1% in July of 2020 to $360,253 from July of 2019's $362,685.
The number of new residential listings remained mostly on par in July of 2020 compared to June, with 1,025 new listings in July compared to June's 1,033. New listings this July were 22% higher than July of 2019's 841.
The average days on market (DOM) increased 6% in July of 2020 to 70 DOM versus June's 66 and was 8% higher than last year's 64 DOM.
If you have any questions on these statistics or would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to contact Jeff Creamer by email at firstname.lastname@example.org or by phone at 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.