central okanagan CONDO - JUNE 2 0 2 4
MONTHS OF INVENTORY 8.2 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 12% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 56% VS 2023
▼ 6% VS 2023
▼ 3% VS 2023
▼ 30% VS 2023
There were 795 condo listings in the Central Okanagan in June, 6% above May and 56% higher than June 2023.
June condo sales decreased by 22% month-over-month, to 97, and were 30% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 139 511
% Change
No. 125 749
% Change
The months of inventory for condos in the Central Okanagan, at 8.2, reflected a buyers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$459 $453,551 $446,000 8.2 97 795
-12% -6% -3% 123% -30% 56%
-9% -7% -0.9% 37% -22% 6%
The condo median price in June was $446,000, a 0.9% decrease from May and 3% below June 2023. The average sold price was $453,551, 7% below last month; the average PSF sale price was $459, down 9% to last month.
$523 $481,098 $461,000 3.7
$503 $488,408 $450,000 6.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 795
51
680
749
707
578
545
535
42
585
511
543
507
497
490
29
127
125
109
139
74
65
62
55
97
43
94
76
85
$500K
$491K
$475K
$461K
$464K
$464K
$451K
$450K
$450K
$446K
$439K
$430K
$410K
Jun-23
May-24
Jun-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.
350
24+
4+ bdrms
300
7
250
18.0
17.1
4
200
3 bdrms
118
150
6.7
100
75
6.0
2 bdrms
4.3
483
50
0
18
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 3 13 4.3 28 188 6.7 56 336 6.0 8 137 17.1 1 59 59.0 1 18 18.0 0 11 n/a 0 33 n/a
<2 bdrms
187
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. 7 ●
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