central okanagan DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 11.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 37% VS 2023
▼ 1.9% VS 2023
▼ 5% VS 2023
▼ 1.2% VS 2023
There were 1,807 detached listings in the Central Okanagan in August, 1.6% below July and 37% higher than August 2023. August detached home sales decreased by 14% month-over-month, to 164, and were 1.2% below August 2023. The months of inventory for detached in the Central Okanagan, at 11.0, re(ected a buyers' market.
THIS MONTH No. $1,073,789 $927,000 11.0 164 1,807
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,094,583 $974,500 8.0 166 1,320
-1.9% -5% 39% -1.2% 37%
$1,133,404 $952,500 9.7 190 1,836
-5% -3% 14% -14% -1.6%
The detached median price in August was $927,000, a 3% decrease from July and 5% below August 2023.
The average sold price was $1,073,789, 5% below last month and down 1.9% to August 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
51
1,807
1,851 1,836
1,539
1,688
1,412 1,372
1,345
1,241
1,320
39
1,073
1,014
970
32
195
200
190
150
130
120
106
106
88
86
166
164
199
$990K
$993K
$985K
$975K
$964K
$968K
$964K
$953K
$947K
$926K
$925K
$927K
$880K
Aug-23
Jul-24
Aug-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
600
24+
24+
21.7
500
16.2
400
14.3
300
200
5.4
100
0
<$1.0M
$1.0M-$1.4M $1.5M-$1.99M $2.0M-2.24M $2.5M-2.99M $3.0M-3.49M $3.5M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
MOI INVENTORY SALES
98 525 5.4
43 615 14.3
11 324 29.5
6 130 21.7
5 81 16.2
1 32 32.0
0 29 n/a
0 28 n/a
0 13 n/a
0 30 n/a
Copyright © 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 September 9, 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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