central okanagan CONDO - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 9.5 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 29% VS 2022
▼ 17% VS 2022
▼ 1.2% VS 2022
▼ 16% VS 2022
There were 578 condo listings in the Central Okanagan in November, 6% above October and 29% higher than November 2022. November condo sales decreased by 18% month-over-month, to 61, and were 16% below November 2022. The months of inventory for condos in the Central Okanagan, at 9.5, reflected a buyers' market. The condo median price in November was $405,000, a 18% decrease from October and 1.2% below November 2022. The average sold price was $449,756, 15% below last month; the average PSF sale price was $499, down 3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$499 $449,756 $405,000 9.5 61 578
$509 $540,143 $410,000 612% 73 447
-2% -17% -1.2% 55% -16% 29%
$516 $527,220 $491,000 7.3 74 543
-3% -15% -18% 29% -18% 6%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
546
578
40
535
500
475
543
36
511
435
507
485
447
481
32
374
145
139
129
127
74
135
50
47
73
61
94
77
76
$491K
$475K
$471K
$460K
$461K
$464K
$464K
$450K
$451K
$445K
$435K
$410K
$405K
Nov-22
Oct-23
Nov-23
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
200
24+
4+ bdrms
6
22.0
20.3
150
5
3 bdrms
73
100
9.8
9.0
32
2 bdrms
50
4.8
348
1.0
0
23
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 27 130 4.8 22 216 9.8 4 117 29.3 3 61 20.3 1 22 22.0 1 9 9.0 0 20 n/a 3 3 1.0
<2 bdrms
151
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. 7 ●
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