central okanagan DETACHED - MAY 2 0 2 4
MONTHS OF INVENTORY 8.5 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 46% VS 2023
▼ 7% VS 2023
▼ 4% VS 2023
▼ 23% VS 2023
There were 1,684 detached listings in the Central Okanagan in May, 9% above April and 46% higher than May 2023. May detached home sales increased by 2% month-over-month, to 199, and were 23% below May 2023. The months of inventory for detached in the Central Okanagan, at 8.5, reflected a buyers' market.
THIS MONTH No. $1,101,803 $990,000 8.5 199 1,684
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change 3% 0% 7% 2% 9%
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,188,939 $1,030,000 4.5 258 1,154
-7% -4% 89% -23% 46%
$1,069,007 $990,000 7.9 195 1,538
The detached median price in May was $990,000, a 0% change from April and 4% below May 2023.
The average sold price was $1,101,803, 3% above last month and down 7% to May 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,684
39
1,538
1,413
1,373
1,349
1,344
35
1,282
1,242
1,320
32
1,154
1,074
1,015
971
246
195
258
150
130
120
106
106
199
88
86
200
166
$1.03M
$990K
$990K
$971K
$975K
$964K
$968K
$964K
$950K
$947K
$926K
$925K
$880K
May-23
Apr-24
May-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
350
24+
24+
23.4
300
250
16.3
16.3
15.6
200
150
100
6.2
4.7
4.3
4.0
50
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
9 39 4.3
33 132 4.0
61 289 4.7
53 328 6.2
18 293 16.3
10 163 16.3
4 121 30.3
5 117 23.4
5 78 15.6
Copyright © June 10, 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 June 10, 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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