central okanagan DETACHED - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 10.6 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 22% VS 2022
▲ 0.7% VS 2022
▼ 16% VS 2022
▼ 2% VS 2022
There were 1,436 detached listings in the Central Okanagan in October, 3% below September and 22% higher than October 2022. October detached home sales decreased by 0.7% month-over-month, to 135, and were 0.7% above October 2022. The months of inventory for detached in the Central Okanagan, at 10.6, reflected a buyers' market. The detached median price in October was $910,000, a 8% increase from September and 2% below October 2022. The average sold price was $1,004,456, 0.3% below last month and down 16% to October 2022.
THIS MONTH No. $1,004,456 $910,000 10.6 135 1,436
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,195,015 $932,500 881% 134 1,181
-16% -2% 21% 0.7% 22%
$1,007,707 $841,250 10.9 136 1,479
-0.3% 8% -2% -0.7% -3%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,398
1,479
50
1,436
1,304
1,386
1,181
1,020
1,011
1,167
41
1,059
898
36
821
824
261
244
194
136
127
126
90
70
134
135
192
192
165
$1.04M
$975K
$973K
$971K $970K $1.01M
$950K
$933K
$925K
$910K
$900K
$884K
$841K
Oct-22
Sep-23
Oct-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
250
24+
24+
24+
24+
200
150
13.0
100
10.6
6.4
50
5.2
4.0
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+
MOI INVENTORY SALES
23 93 4.0
22 115 5.2
37 235 6.4
22 233 10.6
18 234 13.0
5 134 26.8
3 96 32.0
3 101 33.7
0 64 n/a
2 131 65.5
Copyright © November 3, 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 November 3, 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.
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