central okanagan TOWNHOME - MAY 2 0 2 4
MONTHS OF INVENTORY 5.5 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.5% VS 2023
▲ 48% VS 2023
▼ 0.7% VS 2023
▼ 16% VS 2023
There were 416 townhome listings in the Central Okanagan in May, 6% above April and 48% higher than May 2023. May townhome sales increased by 1.4% month-over-month, to 75, and were 16% below May 2023. The months of inventory for townhomes in the Central Okanagan, at 5.5, reflected a balanced market. The townhome median price in May was $690,000, a 2% increase from April and 1.5% above May 2023. The average sold price was $717,115, 0.9% above last month; the average PSF sale price was $439, down 0.1% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$439 $717,115 $690,000 5.5 75 416
$424 $722,518 $680,000 3.2 89 281
4% -0.7% 1.5% 76% -16% 48%
$440 $710,718 $676,000 5.3 74 394
-0.1% 0.9% 2% 4% 1.4% 6%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 416
36
35
373
354
394
340
328
335
332
322
29
308
281
295
292
84
74
65
89
57
49
75
37
35
30
28
65
46
$720K
$715K
$700K
$690K
$680K
$679K
$676K
$670K
$670K
$656K
$660K
$660K
$662K
May-23
Apr-24
May-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.
22.0
14
4+ bdrms
80
67
18.0
18.0
60
42
3 bdrms
231
10.9
10.0
40
18
2 bdrms
4.3
4.2
20
112
2.3
0
1
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 7 76 10.9 5 50 10.0 2 44 22.0 1 18 18.0 1 18 18.0 21 48 2.3 17 73 4.3 21 89 4.2
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. 6 ●
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