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 firstname.lastname@example.org 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 Facebook, Instagram and Twitter.