Single-Family Residential Homes
Real estate sales of Central Okanagan single-family detached residential homes decreased 29% in October 2021 compared to October of 2020, with 250 homes sold in October 2021 versus October of 2020's 353. Decreasing sales continue to be driven by lack of inventory across all housing types as demand remains high.
The number of new listings of single-family detached residential homes in the Central Okanagan increased 6% this October since October of 2020, with 339 new listings this October compared to last October's 320. This increase in listings from last year is promising, as inventory has been consistently low for the past several months.
The average price of Central Okanagan single-family detached residential homes increased 22% in October 2021 compared to October of last year, coming in at $1,031,723 versus October of 2020's $848,795.
The average days on market (DOM) of single-family detached residential homes in the Central Okanagan decreased 44% in October 2021 compared to this time last year, with 33 DOM in October 2021 versus October of 2020's 59 DOM.
Townhomes
Central Okanagan townhome sales decreased 33% in October 2021 compared to October of last year, with 91 townhomes sold this October versus last October's 136.
The number of new townhome listings in the Central Okanagan decreased by 6% this October compared to this time last year, with 106 new listings this October compared to last October's 113.
The average price of townhomes increased by 21% this October in the Central Okanagan compared to October of last year, coming in at $677,672 this October compared to last October's $558,727.
The average days on market (DOM) of townhomes in the Central Okanagan decreased 7% in October 2021 compared to October of last year, with 36 DOM in October 2021 compared to October of 2020's 74 DOM.
Condos
Sales of Central Okanagan condos were 7% lower in October of 2021 compared to October of last year, with 154 sold this October compared to October of 2020's 165.
The number of new condo listings in the Central Okanagan decreased by 5% in October 2021 from this time last year, with 183 listings in this October versus last October's 193.
The average prices of Central Okanagan condos increased 27% this October compared to October of 2020, coming in at $492,626 in October of 2021 compared to last October's $387,803.
The average days on market (DOM) of condos in the Central Okanagan fell 41% in October 2021 compared to October of last year, with 37 DOM in October 2021 versus October of 2020's 63 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