central okanagan CONDO - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 7.6 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 12% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2022
▼ 10% VS 2022
▼ 1.6% VS 2022
▼ 29% VS 2022
There were 547 condo listings in the Central Okanagan in September, 8% above August and 9% higher than September 2022. September condo sales decreased by 28% month-over-month, to 72, and were 29% below September 2022. The months of inventory for condos in the Central Okanagan, at 7.6, reflected a balanced market. The condo median price in September was $464,000, a 4% increase from August and 1.6% below September 2022. The average sold price was $531,634, 8% above last month; the average PSF sale price was $514, up 0.9% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 101 503
% Change
No. 100 508
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$514 $531,634 $464,000 7.6 72 547
-12% -10% -1.6% 53% -29% 9%
0.9% 8% 4% 50% -28% 8%
$586 $588,830 $471,500 498%
$509 $493,395 $447,950 5.1
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
50
547
511
500
475
503
535
447
508
435
485
481
469
374
37
36
143
141
130
124
100
94
72
101
134
47
72
74
52
$472K
$470K
$472K
$465K
$468K
$464K
$460K
$463K
$452K
$449K
$448K
$434K
$408K
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.
200
24+
4+ bdrms
6
150
8
3 bdrms
73
100
11.8
11.5
8.3
8.0
51
50
6.1
2 bdrms
5.0
330
0
13
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 21 106 5.0 34 206 6.1 9 106 11.8 2 60 30.0 3 25 8.3 0 13 n/a 2 23 11.5 1 8 8.0
<2 bdrms
138
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. 7 ●
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