Central & Southern Okanagan Real Estate Market Statistics: March 2021

Single-Detached Residential Homes

Central Okanagan real estate sales of single-detached residential homes experienced another month of record highs in March of 2021, increasing 135% since March of last year, with 413 homes sold in March 2021 versus March of 2020's 176. Economic recovery, low mortgage rates and buyers seeking more space due to the pandemic have heavily impacted demand, while inventory remains low. 

The number of new listings of single-detached homes in the Central Okanagan increased by 20% this March from March of 2020, with 504 new listings this March compared to last March's 419.

The average price of Central Okanagan single-detached residential homes increased 35% in March 2021 compared to March of last year, coming in at a whopping $967,492 versus March of 2020's $718,009.

The average days on market (DOM) of Central Okanagan single-detached residential homes decreased 48% in March 2021 compared to this time last year, with 33 DOM in March 2021 versus March of 2020's 63 DOM.

Townhomes

Townhome sales in the Central Okanagan were 101% higher in March 2021 compared to March of last year, with 149 townhomes sold this March versus last March's 74. 

The number of new townhome listings in the Central Okanagan increased by 3% this March compared to this time last year, with 151 listings in March of 2021 versus March of 2020's 147.

The average price of townhomes in the Central Okanagan increased by 24% this March compared to March of last year, coming in at $640,484 this March compared to last March's $514,850.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 48% in March 2021 compared to this time last year, with 38 DOM in March 2021 versus March of 2020's 73 DOM.

Condos

Central Okanagan condo sales were 193% higher in March of 2021 compared to March of last year, with 267 sold this March compared to March of 2020's 91. 

The number of new condo listings in the Central Okanagan increased by 28% in March 2021 from this time last year, with 318 listings in this March versus last March's 249.

The average price of condos in the Central Okanagan increased by 29% this March compared to March of last year, coming in at $429,369 in March of 2021 compared to March of 2020's $331,953.

The average days on market (DOM) of condos in the Central Okanagan decreased 29% in March 2021 compared to this time last year, with 42 DOM in March 2021 versus March of 2020's 59 DOM.

Questions? Or would you like to talk about next steps in buying or selling a home? Contact Jeff Creamer by phone at 250-575-7112 or by filling out this Contact form.

Source: Association of Interior Realtors