central okanagan CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 6.8 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.1% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 42% VS 2023
▼ 8% VS 2023
▼ 4% VS 2023
▼ 12% VS 2023
There were 759 condo listings in the Central Okanagan in July, 5% below June and 42% higher than July 2023.
July condo sales increased by 15% month-over-month, to 112, and were 12% below July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 127 535
% Change
No.
% Change
The months of inventory for condos in the Central Okanagan, at 6.8, reflected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
112 759
0.1% -8% -4% 61% -12% 42%
$459 $453,551 $446,000 8.2 97 796
12% 4% 0.2% -17% 15% -5%
The condo median price in July was $447,000, a 0.2% increase from June and 4% below July 2023. The average sold price was $470,092, 4% above last month; the average PSF sale price was $513, up 12% to last month.
$513 $470,092 $447,000 6.8
$513 $508,494 $463,500 4.2
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
51
759
796
681
750
708
578
44
545
535
585
543
507
497
490
33
125
109
127
74
65
62
112
55
43
97
94
76
85
$500K
$491K
$475K
$464K
$464K
$451K
$450K
$450K
$446K
$447K
$439K
$430K
$410K
Jul-23
Jun-24
Jul-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
21.0
300
4+ bdrms
10
17.7
250
15.1
8
200
3 bdrms
100
150
100
74
5.3
4.8
2 bdrms
456
50
0
30
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 0 13 n/a 37 179 4.8 62 326 5.3 9 136 15.1 3 53 17.7 1 21 21.0 0 13 n/a 0 18 n/a
<2 bdrms
193
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 August 6, 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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