central okanagan DETACHED - JUNE 2 0 2 4
MONTHS OF INVENTORY 9.3 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 8% VS 2023
▲ 3% VS 2023
▲ 44% VS 2023
▼ 20% VS 2023
There were 1,849 detached listings in the Central Okanagan in June, 10% above May and 44% higher than June 2023. June detached home sales decreased by 0.5% month-over-month, to 198, and were 20% below June 2023. The months of inventory for detached in the Central Okanagan, at 9.3, reflected a buyers' market.
THIS MONTH No. $1,240,147 $997,499 9.3 198 1,849
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,153,400 $971,250 5.2 246 1,282
8% 3% 79% -20% 44%
$1,094,175 $985,000 8.5 199 1,686
13% 1.3% 10% -0.5% 10%
The detached median price in June was $997,499, a 1.3% increase from May and 3% above June 2023.
The average sold price was $1,240,147, 13% above last month and up 8% to June 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 1,849
39
1,538
37
1,686
1,413
1,373
1,349
1,344
1,242
1,282
1,320
29
1,074
1,015
971
195
199
166
150
246
130
120
106
106
88
86
198
200
$997K
$990K
$985K
$971K
$975K
$964K
$968K
$964K
$950K
$947K
$926K
$925K
$880K
Jun-23
May-24
Jun-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
350
24+
300
21.7
19.6
250
16.4
200
11.7
150
8.1
100
5.5
5.5
4.9
50
0
N/A
<$600K
$600K-799K $800K-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 $3.0M+
MOI INVENTORY SALES
0 2 n/a
8 44 5.5
26 143 5.5
67 326 4.9
42 339 8.1
27 317 11.7
11 180 16.4
4 145 36.3
6 130 21.7
0 86 n/a
7 137 19.6
Copyright © July 8, 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 July 8, 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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