central okanagan DETACHED - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 10.3 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 3% VS 2022
▲ 5% VS 2022
▲ 21% VS 2022
▼ 4% VS 2022
There were 1,241 detached listings in the Central Okanagan in November, 10% below October and 21% higher than November 2022. November detached home sales increased by 13% month-over-month, to 120, and were 4% below November 2022. The months of inventory for detached in the Central Okanagan, at 10.3, reflected a buyers' market. The detached median price in November was $967,500, a 0.4% increase from October and 5% above November 2022. The average sold price was $1,171,979, 3% above last month and up 3% to November 2022.
THIS MONTH No. $1,171,979 $967,500 10.3 120 1,241
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,134,508 $925,000 820% 125 1,025
3% 5% 26% -4% 21%
$1,132,982 $963,600 13.0 106 1,373
3% 0.4% -20% 13% -10%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,349
1,412
48
1,282
1,373
1,241
1,320
42
1,025
1,011
1,154
1,054
900
830
822
32
258
246
192
132
130
106
95
67
218
125
120
200
166
$1.03M
$986K
$971K
$975K
$964K
$968K
$960K
$950K
$947K
$925K
$926K
$908K
$890K
Nov-22
Oct-23
Nov-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
250
24+
24+
24+
23.4
200
20.0
150
17.0
100
8.4
7.5
6.9
50
3.6
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
4 30 7.5
30 108 3.6
33 229 6.9
24 201 8.4
12 204 17.0
5 117 23.4
3 88 29.3
2 91 45.5
3 60 20.0
4 113 28.3
Copyright © December 13, 2023 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of December 13, 2023. All data from Association of Interior Realtors & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
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