Central Okanagan Kelowna Real Estate Market Stats: March 2022Central Okanagan / Kelowna Real Estate Market Overview: March 2022

While home prices continue to rise, the Central Okanagan / Kelowna Real Estate Market is experiencing a shift, with fewer sales and an increased number of listings across most housing types. 

Single-Family Residential Homes

Residential real estate sales of single-family residential homes in the Central Okanagan decreased 27% in March 2022 versus March of 2021, with 301 homes sold in March 2022 compared to March of 2021's 411.

The number of new listings of single-family homes in the Central Okanagan increased 15% this March compared to March of 2021, with 579 new residential listings this March versus last March's 505 new listings.

The average price of single-family homes in the Central Okanagan increased 38% in March 2022 since March of last year, coming in at an record of $1,281,050 versus March of 2021's $963,810. 

The average days on market (DOM) of single-family homes in the Central Okanagan decreased 33% in March 2022 compared to March of 2021, with 22 DOM in March 2022 versus last March's 33 DOM.

Townhomes

Sale of Central Okanagan Townhomes decreased 44% in March 2022 since March of 2021, with 83 townhomes sold this March versus last March's 148. 

The number of new townhome listings in the Central Okanagan this March remained mostly on par with March of 2021, with 153 new listings in March of 2022 compared to last March's 151.

The average price of townhomes increased 34% this March in the Central Okanagan compared to March of last year, coming to $860,573 this March compared to last March's $640,589. 

The average days on market (DOM) of townhomes in the Central Okanagan decreased 26% in March 2022 compared to March of last year, with 29 DOM in March 2022 compared to March of 2021's 39 DOM.

Condos

Condo sales in the Central Okanagan in March of 2022 decreased 25% compared to March of last year, with 201 sold this March compared last March's 267. 

The number of new condo listings in the Central Okanagan decreased 21% in March 2022 compared to this time last year, with 281 new condo listings in March of 2022 compared to 318 new listings in March of 2021.

The average prices of Central Okanagan condos increased 28% this March compared to March of 2021, coming in at $550,328 in March of 2022 compared to last March's $429,369.

The average days on market (DOM) of condos in the Central Okanagan fell 31% in March 2022 compared to March of last year, with 29 DOM in March 2022 versus March of 2021's 42 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