Residential real estate sales in the Central Okanagan experienced a slight decline in October 2020, down 4% from September, with 708 sold in October versus 739 in September. Home sales this October were still significantly greater than last October, up by 85% from this time last year, which came to 382. 

The average price of a single-detached residential home in the Central Okanagan increased by 25% from October of last year, coming in at $850,634 in 2020 compared to October of 2019's $681,861. The average price of a townhome increased by 12% compared to October of last year, coming to $558,749 versus October of 2019's $500,407. The average price of a condo in October of 2020 increased by 22% to $387,803 compared to last October's $318,155.

The number of new residential listings in October of 2020 decreased by 19% compared to September, with 712 new listings in October versus September's 875. New listings this October were 11% higher than October of 2019's 640. 

The average days on market (DOM) decreased by 3% from last month, with 65 DOM in October versus September's 67. DOM this October decreased 13% from October of 2019's 77 DOM.

If you have any questions on these Central Okanagan real estate market statistics 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 FacebookInstagram and Twitter.

Central Okanagan Real Estate Market Statistics: October 2020 Title Image