central okanagan CONDO - APRIL 2 0 2 4
MONTHS OF INVENTORY 6.5 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 6% VS 2023
▲ 47% VS 2023
▼ 25% VS 2023
There were 707 condo listings in the Central Okanagan in April, 4% above March and 47% higher than April 2023.
April condo sales increased by 28% month-over-month, to 109, and were 25% below April 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 145 481
% Change
No.
% Change
The months of inventory for condos in the Central Okanagan, at 6.5, reflected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
109 707
-4% 4% 6% 96% -25% 47%
$481 $467,898 $438,500 8.0 85 680
6% 10% 8% -19% 28% 4%
The condo median price in April was $475,000, a 8% increase from March and 6% above April 2023. The average sold price was $516,431, 10% above last month; the average PSF sale price was $510, up 6% to last month.
$510 $516,431 $475,000 6.5
$530 $494,882 $450,000 3.3
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 707
41
680
578
545
535
36
585
34
543
481
511
507
497
490
485
139
127
145
74
65
109
62
55
135
43
94
85
76
$500K
$491K
$475K
$471K
$461K
$464K
$464K
$450K
$451K
$450K
$439K
$430K
$410K
Apr-23
Mar-24
Apr-24
▶ 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.
300
16.0
4+ bdrms
4
250
200
12
3 bdrms
9.0
88
150
7.6
6.2
6.0
6.0
5.6
100
75
2 bdrms
453
50
0
22
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 2 12 6.0 27 151 5.6 51 315 6.2 20 119 6.0 7 53 7.6 1 16 16.0 1 9 9.0 0 32 n/a
<2 bdrms
162
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. 7 ●
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