central okanagan DETACHED - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 10.8 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 21% VS 2022
▼ 24% VS 2022
▼ 14% VS 2022
▼ 17% VS 2022
There were 1,466 detached listings in the Central Okanagan in September, 7% above August and 21% higher than September 2022. September detached home sales decreased by 18% month-over-month, to 136, and were 17% below September 2022. The months of inventory for detached in the Central Okanagan, at 10.8, reflected a buyers' market. The detached median price in September was $841,250, a 17% decrease from August and 14% below September 2022. The average sold price was $1,007,707, 10% below last month and down 24% to September 2022.
THIS MONTH No. $1,007,707 $841,250 10.8 136 1,466
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,323,637 $974,000 743% 163 1,211
-24% -14% 45% -17% 21%
$1,119,070 $1,010,000 8.3 165 1,376
-10% -17% 29% -18% 7%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,392
50
1,466
1,297
1,376
1,181
1,211
1,020
1,011
42
1,163
1,058
38
898
821
824
262
244
194
134
127
126
90
163
70
136
192
192
165
$1.04M
$974K
$975K
$973K
$971K $970K $1.01M
$950K
$933K
$925K
$900K
$884K
$841K
Sep-22
Aug-23
Sep-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+
22.4
200
150
14.0
11.3
10.0
100
50
3.1
3.1
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
26 80 3.1
35 107 3.1
25 251 10.0
23 259 11.3
11 246 22.4
5 136 27.2
3 97 32.3
0 98 n/a
5 70 14.0
3 122 40.7
Copyright © October 16, 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 October 16, 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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