Central Okanagan Real Estate Market Statistics: May 2021

Single-Detached Residential Homes

Real estate sales of single-detached residential homes in the Central Okanagan increased 141% in May of 2021 compared to May of 2020, with 335 homes sold this May versus last May's 139. As was the case with April of 2021's statistics, this substantial increase from last year is due to pandemic lockdown restrictions in May of 2020 and does not reflect typical changes in the real estate market. On a month-to-month basis, this month's numbers are showing signs of the start of a slowdown.

The number of new listings of single-detached homes in the Central Okanagan increased by 26% this May compared to May of 2020, with 471 new listings this May compared to last May's 374.

The average price of Central Okanagan single-detached residential homes increased 38% in May 2021 compared to May of last year, coming in at $997,541 versus May of 2020's $724,767.

The average days on market (DOM) of Central Okanagan single-detached residential homes decreased 62% in May 2021 compared to this time last year, with 24 DOM in May 2021 versus May of 2020's 63 DOM.

Townhomes

Townhome sales in the Central Okanagan were 124% higher in May 2021 compared to May of last year, with 121 townhomes sold this May versus last May's 54. 

The number of new townhome listings in the Central Okanagan increased by 18% this May compared to this time last year, with 156 new listings this May compared to last May's 132.

The average price of townhomes in the Central Okanagan increased by 36% this May compared to May of last year, coming in at $652,486 this May compared to last May's $480,139.

The average days on market (DOM) of townhomes in the Central Okanagan decreased 66% in May 2021 compared to this time last year, with 23 DOM in May 2021 versus May of 2020's 68 DOM.

Condos

Central Okanagan condo sales were 333% higher in May of 2021 compared to May of last year, with 234 sold this May compared to May of 2020's 54. 

The number of new condo listings in the Central Okanagan increased by 46% in May 2021 from this time last year, with 262 listings in this May versus last May's 179.

The average price of condos in the Central Okanagan increased by 36% this May compared to May of last year, coming in at $438,420 in May of 2021 compared to May of 2020's $321,526.

The average days on market (DOM) of condos in the Central Okanagan decreased 63% in May 2021 compared to this time last year, with 30 DOM in May 2021 versus May of 2020's 82 DOM.

If you have questions, or if you would like to talk about what's next in selling or buying a home, get in touch with Jeff Creamer by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.