Residential real estate sales in the Central Okanagan decreased in by 11% November of 2020 compared to October, with 634 sold in November versus 708 in October. Home sales this November were still significantly greater than this time last year, up by 71% from November of 2019, which came to 371.
The average price in the Central Okanagan of single-detached residential home increased 14% from November of last year, coming in at $856,956 in November of 2020 compared to November of 2019's $752,004. The average price of a townhome in November of 2020 increased by 9% compared to November of last year, coming to $583,920 versus November of 2019's $534,407. Conversely, the average price of a condo decreased in November of 2020 by 10% to $361,082 compared to November of 2019's $402,589.
The number of new residential listings in November of 2020 decreased by 23% compared to October, with 546 new listings in November versus October's 712. Declines in the number of home sales and listings are expected in the months leading up to the holidays. New listings in November of 2020 were 12% higher than last November's 486.
The average days on market (DOM) in November 2020 decreased by 4.6% from last month, with 62 DOM in November versus October's 65. DOM this November decreased 17% from November of 2019's 75 DOM.
If you have any questions on these statistics for the Central Okanagan or would like to discuss next steps in buying or selling a home, feel free to reach out to Jeff Creamer by email at firstname.lastname@example.org or by phone at 250-575-7112. Get weekly updates on Central Okanagan real estate market statistics and other useful real estate information and tips by following Jeff on Facebook, Instagram and Twitter.