Residential real estate sales in June of 2020 made a big comeback in the Central Okanagan compared to May, with 483 sold compared to May's 278. Home sales in June of 2020 were also up by 7% from June of 2019, which came to 451. The Central Okanagan real estate market seems to be recovering after the COVID-19 slowdown and may recover quicker than originally thought; however, it's best to remain "cautiously optimistic" as the pandemic is not yet over.

The average price of a single-detached residential home in the Central Okanagan increased by 8% in June of 2020 compared to June of last year, coming to $748,428 compared to June of 2019's $692,246. The average price of a townhome increased compared to last year, coming to $524,638, a 3.2% increase from June of 2019's $508,397. The average price of a condo decreased by 3.2% in June of 2020 to $339,241 from June of 2019's $350,506.

The number of new residential listings increased 34% in June of 2020 compared to May, with 1,033 new listings in June compared to May's 772. New listings this June were also 8% higher than June of 2019's 961. 

The average days on market (DOM) decreased 10% in June of 2020 to 66 DOM versus May's 73 but was 16% higher than last year's 57 DOM. 

If you have any questions on these numbers 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 jeff@shopkelownahomes.com 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.

Central Okanagan Real Estate Market Statistics June 2020 Title Image