Residential real estate sales in the Central Okanagan took a 10% dip in September 2019 compared to August, with 406 sold overall versus last month's 450. While less than last month, sales this month are up by 11%compared to September of 2018's 364. This is the third consecutive month that sales have shown an upswing compared to the same time period last year.
The average price of single-detached residential declined by 1% to $712,371 in September compared to last September's $720,769. The average price of townhomes experienced a 1% increase to $533,253 from last year's $510,426, while the average price of condos increased by 11% to $387,569 from September of 2018's $346,102.
The number of new residential listings in the Central Okanagan real estate market decreased by 14% compared to last month, with 733 in September versus 845 in August, and were down by 13% from September of 2018's 838.
The average days on market (DOM) increased in September by 10% to 73 DOM from August's 66 and was 12% higher than last September's 65 DOM.
If you have any questions on the information above or if you would like to discuss next steps in buying or selling a home in the Central Okanagan, feel free to email Jeff Creamer at firstname.lastname@example.org or call 250-575-7112. Enjoy weekly updates on the Central Okanagan real estate market by following Jeff on Facebook, Instagram and Twitter.