central okanagan DETACHED - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 9.3 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.4% VS 2023
▲ 15% VS 2023
▲ 60% VS 2023
▼ 1.6% VS 2023
There were 1,584 detached listings in the Central Okanagan in October, 13% below September and 15% higher than October 2023. October detached home sales increased by 36% month-over-month, to 170, and were 60% above October 2023. The months of inventory for detached in the Central Okanagan, at 9.3, re)ected a buyers' market. The detached median price in October was $967,000, a 0.7% increase from September and 0.4% above October 2023. The average sold price was $1,115,319, 4% above last month and down 1.6% to October 2023.
THIS MONTH No. $1,115,319 $967,000 9.3 170 1,584
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,132,982 $963,600 12.9 106 1,372
60% 15%
$1,077,309 $960,000 14.6 125 1,829
4% 0.7% -36% 36% -13%
-1.6% 0.4% -28%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
46
1,851
1,836
1,829
1,805
1,539
1,688
1,584
1,345
1,372
1,241
35
1,073
32
1,014
970
195
200
190
164
150
120
125
106
88
86
170
106
198
$990K
$993K
$988K
$964K
$968K
$964K
$967K
$953K
$960K
$947K
$925K
$927K
$880K
Oct-23
Sep-24
Oct-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
24+
24+
500
21.8
400
18.0
15.8
300
10.8
200
5.0
100
0
<$1.0M
$1.0M-$1.4M $1.5M-$1.99M $2.0M-2.24M $2.5M-2.99M $3.0M-3.49M $3.5M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
MOI INVENTORY SALES
94 466 5.0
49 528 10.8
19 300 15.8
5 109 21.8
0 67 n/a
1 18 18.0
1 26 26.0
1 27 27.0
0 13 n/a
0 30 n/a
Copyright © 2024 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 November 12, 2024. 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. 5 ●
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