central okanagan TOWNHOME - JANUARY 2 0 2 4
MONTHS OF INVENTORY 10.4 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 29% VS 2023
▼ 1.0% VS 2023
▼ 4% VS 2023
▼ 16% VS 2023
There were 334 townhome listings in the Central Okanagan in January, 4% below December and 29% higher than January 2023. January townhome sales increased by 3% month-over-month, to 32, and were 16% below January 2023. The months of inventory for townhomes in the Central Okanagan, at 10.4, reflected a buyers' market. The townhome median price in January was $679,000, a 7% increase from December and 4% below January 2023. The average sold price was $710,041, 4% above last month; the average PSF sale price was $450, up 13% 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
$450 $710,041 $679,000 10.4 32 334
$439 $717,434 $706,000 682% 38 259
2% -1% -4% 53% -16% 29%
$399 $683,771 $635,000 11.2 31 347
13% 4% 7% -7% 3% -4%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
385
405
59
362
56
383
325
361
334
347
325
307
294
259
276
38
107
75
64
54
88
31
78
71
38
32
44
38
42
$720K
$708K
$710K
$706K
$700K
$695K
$687K
$685K
$679K
$665K
$663K
$653K
$635K
Jan-23
Dec-23
Jan-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.
80
4
70
24+
4+ bdrms
63
60
20.3
50
18
3 bdrms
14.0
40
171
30
8.2
10
6.7
20
2 bdrms
4.7
96
10
0
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 5 70 14.0 9 74 8.2 3 61 20.3 1 25 25.0 3 20 6.7 0 11 n/a 0 21 n/a 11 52 4.7
4
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. 6 ●
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