highlights • Therewere2,409 activeM LS listingslastm onth,which m arked thehighestinventorylevelin any m onth goingback toJuly2020 (2,457).Com pared topriorM arch data,inventorywas29% above thepast-decadeM ach averageand hasn’tbeen thishigh since2015 (2,460). • Inventoryforal hom etypesgrew 20% m onth-over-m onth,m orethan thetypical February-to-M arch expansion of12%.D etached hom einventorywasup 25%,folowed bycondos (16%)and townhom es(8%).O n ayear-over-yearbasis,totalinventorywasup by33% with al hom etypesup byasim ilarpercentage. • W ith m onth-over-m onth salesgrowth outpacinginventory,m onthsofinventory(M O I)declined foral hom etypes.Thedetached hom eand condosegm entsrem ained in buyers’m arketter itory with M O Isof9.8 and 8.5,respectively,whilethetownhom esegm entwasbalanced at6.6.
CENTRALOKANAGAN THERENNIEADVANCE inventory
MARCH 2024
+ 32% vsM ar2023
1,000 1,250 1,500 1,750 2,000
1,339
1,069 10 yrM arAvg
250 500 750
DETACHED inventory
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 25% vs10yrM arAvg
﹍ 10 yrM arch Average
● March
600
+ 34% vsM ar2023
500
400
393
300
316 10 yrM arAvg
200
TOWNHOME inventory
100
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 24% vs10yrM arAvg
﹍ 10 yrM arch Average
● March
800
+ 35% vsM ar2023
700
677
600
500
400
487 10 yrM arAvg
300
200
CONDO inventory
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100
+ 39% vs10yrM arAvg
﹍ 10 yrM arch Average
● March
Copyright© April2,2024renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofApril2,2024.Aldatafrom As ociationofInterior REALTORS® & Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ation shouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom aren ieand as ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
5
Made with FlippingBook - professional solution for displaying marketing and sales documents online