central okanagan DETACHED - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 10.4 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 19% VS 2023
▼ 9% VS 2023
▼ 2% VS 2023
▼ 22% VS 2023
There were 1,070 detached listings in the Central Okanagan in February, 11% above January and 19% higher than February 2023. February detached home sales increased by 20% month-over-month, to 103, and were 22% below February 2023. The months of inventory for detached in the Central Okanagan, at 10.4, re'ected a buyers' market.
THIS MONTH No. $1,050,322 $965,000 10.4 103 1,070
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 132 900
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
-9% -2% 52% -22% 19%
$1,053,260 $880,000 11.2 86 967
20% 11%
The detached median price in February was $965,000, a 10% increase from January and 2% below February 2023.
-0.3% 10% -8%
$1,160,200 $986,250 682%
The average sold price was $1,050,322, 0.3% below last month and down 9% to February 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,349
1,412
68
1,282
1,240
1,372
1,320
1,011
1,154
1,070
1,054
1,012
900
967
52
37
258
246
192
130
120
106
88
86
132
218
200
103
166
$1.03M
$986K
$971K
$975K
$964K
$968K
$965K
$960K
$950K
$947K
$947K
$926K
$880K
Feb-23
Jan-24
Feb-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
200
24+
24+
23.3
20.6
150
17.8
15.0
100
7.0
50
5.7
3.9
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
2 30 15.0
22 85 3.9
32 182 5.7
25 174 7.0
11 196 17.8
5 103 20.6
3 70 23.3
2 78 39.0
1 47 47.0
0 105 n/a
Copyright © March 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 March 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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