central okanagan DETACHED - APRIL 2 0 2 4
MONTHS OF INVENTORY 7.9 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2023
▲ 46% VS 2023
▼ 4% VS 2023
▼ 11% VS 2023
There were 1,538 detached listings in the Central Okanagan in April, 15% above March and 46% higher than April 2023. April detached home sales increased by 29% month-over-month, to 194, and were 11% below April 2023. The months of inventory for detached in the Central Okanagan, at 7.9, reflected a balanced market.
THIS MONTH No. $1,070,085 $992,500 7.9 194 1,538
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,112,629 $947,000 4.8 218 1,054
-4% 5% 64% -11% 46%
$1,096,006 $925,000 8.9 150 1,342
-2% 7% -11% 29% 15%
The detached median price in April was $992,500, a 7% increase from March and 5% above April 2023.
The average sold price was $1,070,085, 2% below last month and down 4% to April 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,538
36
1,412
1,372
35
1,349
1,342
35
1,282
1,241
1,320
1,154
1,054
1,074
1,014
971
258
246
166
130
218
120
106
106
194
88
86
200
150
$1.03M
$993K
$971K
$975K
$964K
$968K
$964K
$950K
$947K
$947K
$926K
$925K
$880K
Apr-23
Mar-24
Apr-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
300
24+
24+
250
22.1
21.4
21.2
200
150
12.7
100
5.7
4.3
50
4.0
3.4
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+ 1 124 124.0
MOI INVENTORY SALES
11 37 3.4
28 119 4.3
63 255 4.0
52 294 5.7
21 267 12.7
7 155 22.1
5 107 21.4
5 106 21.2
1 74 74.0
Copyright © May 8, 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 May 8, 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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