central okanagan TOWNHOME - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 7.8 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.8% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 33% VS 2023
▲ 7% VS 2023
▼ 10% VS 2023
▼ 7% VS 2023
There were 367 townhome listings in the Central Okanagan in February, 13% above January and 33% higher than February 2023. February townhome sales increased by 47% month-over-month, to 47, and were 7% above February 2023. The months of inventory for townhomes in the Central Okanagan, at 7.8, re'ected a balanced market. The townhome median price in February was $658,000, a 3% decrease from January and 7% below February 2023. The average sold price was $667,083, 6% below last month; the average PSF sale price was $416, down 8% 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
$416 $667,083 $658,000 7.8 47 367
$423 $742,952 $707,500 627% 44 276
-1.8% -10% -7% 24% 7% 33%
$450 $710,041 $679,000 10.2 32 325
-8% -6% -3% -23% 47% 13%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
404
379
56
361
367
379
325
360
338
325
325
307
276
294
35
107
75
64
54
27
88
31
32
78
71
47
44
38
42
$720K
$708K
$710K
$700K
$695K
$687K
$685K
$679K
$665K
$663K
$658K
$653K
$635K
Feb-23
Jan-24
Feb-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
24+
4+ bdrms
71
60
24
3 bdrms
13.7
193
40
9.1
8.3
19
2 bdrms
20
5.3
100
3.5
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 6 82 13.7 7 64 9.1 3 25 8.3 1 26 26.0 0 16 n/a 0 22 n/a 15 53 3.5 15 79 5.3
3
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. 6 ●
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