central okanagan TOWNHOME - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 9.4 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 20% VS 2022
▼ 8% VS 2022
▼ 4% VS 2022
▼ 13% VS 2022
There were 424 townhome listings in the Central Okanagan in September, 12% above August and 20% higher than September 2022. September townhome sales decreased by 40% month-over-month, to 45, and were 13% below September 2022. The months of inventory for townhomes in the Central Okanagan, at 9.4, reflected a buyers' market. The townhome median price in September was $650,000, a 8% decrease from August and 4% below September 2022. The average sold price was $705,024, 3% below last month; the average PSF sale price was $426, down 5% 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
$426 $705,024 $650,000 9.4 45 424
$438 $767,696 $675,000 681% 52 354
-3% -8% -4% 38% -13% 20%
$450 $728,199 $703,500 5.1 75 379
-5% -3% -8% 86% -40% 12%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
46
424
383
367
348
342
354
379
349
321
37
315
293
35
274
256
124
75
70
56
38
38
36
88
52
80
80
45
49
$737K
$720K
$706K
$710K
$710K
$700K
$705K
$704K
$675K
$665K
$653K
$643K
$650K
Sep-22
Aug-23
Sep-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.
6
80
24+
4+ bdrms
91
21.5
60
17.0
21
3 bdrms
13.5
210
40
7.3
16
2 bdrms
5.7
20
119
3.9
0
2
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 85 85.0 2 43 21.5 0 37 n/a 1 17 17.0 2 27 13.5 14 54 3.9 13 74 5.7 12 87 7.3
4
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. 6 ●
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