Market Stats for July 2022

Total Sales are down 48% compared to this time last year (Single Family, Townhomes and Condos). This is a direct result of the increase in inventory we have seen vs this time last year. 

We are still however seeing higher prices than last year (Single Family prices up 9%, Townhomes are up 18%, and Condos are up 17%) BUT in most of the headlines, we are seeing that prices have dropped now 3 months in a row. Don’t let these headlines scare you- it is not doom and gloom. Homes are still selling for great prices.

Market Stats for April 2022

Quick market snap shot for this month, compared to April 2021. Single Family homes are still seeing unprecedented prices with our Benchmark price now being $1,131,800 in the Central Okanagan, up 26.4% from this time last year! We also saw a substantial increase in inventory up 48.9%, along with a 34% drop in overall sales.

Market Stats for March 2022 

For a quick market snapshot this month, our Single Family Homes in the Central Okanagan, we saw 34% less sales this month compared to March 2021, and a 14% increase in listings from this time last year.

 We are also still seeing unprecedented prices- $1,129,000 was the Benchmark price for a Single Family home in the Central Okanagan.

Market Stats for February 2022

This month we saw another steady increase in our prices and a drop in our inventory, the same as we’ve been seeing throughout 2021. 

The Average price of a Single family home in the Central Okanagan is now $1,094,000, compared to last year at this time it was  $776,300

Our inventory levels remain at an all time low, down 20%. As a result of low inventory, we also saw sales dropped 19.8% compared to last year.