central okanagan DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 11.5 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 17% VS 2023
▲ 25% VS 2023
▼ 5% VS 2023
▼ 3% VS 2023
There were 967 detached listings in the Central Okanagan in January, 4% below December and 17% higher than January 2023. January detached home sales decreased by 5% month-over-month, to 84, and were 25% above January 2023. The months of inventory for detached in the Central Okanagan, at 11.5, reflected a buyers' market.
THIS MONTH No. $1,059,720 $882,500 11.5 84 967
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,115,295 $908,000 1239% 67 830
-5% -3% -7% 25% 17%
$1,210,732 $947,000 11.5 88 1,012
-5% -4%
The detached median price in January was $882,500, a 7% decrease from December and 3% below January 2023.
-12% -7% 0.1%
The average sold price was $1,059,720, 12% below last month and down 5% to January 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,349
1,412
81
1,282
1,240
1,372
1,320
1,011
1,154
67
1,054
967
1,012
830
900
58
258
246
192
132
130
120
106
88
218
200
84
166
67
$1.03M
$986K
$971K
$975K
$964K
$968K
$960K
$950K
$947K
$947K
$926K
$908K
$883K
Jan-23
Dec-23
Jan-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
23.0
150
18.6
14.7
100
13.7
13.0
50
6.7
6.5
3.8
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
4 26 6.5
21 79 3.8
27 181 6.7
10 147 14.7
9 167 18.6
7 91 13.0
0 65 n/a
3 69 23.0
3 41 13.7
0 101 n/a
Copyright © February 7, 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 February 7, 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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