central okanagan DETACHED - MARCH 2 0 2 4
MONTHS OF INVENTORY 8.9 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 32% VS 2023
▼ 4% VS 2023
▼ 4% VS 2023
▼ 22% VS 2023
There were 1,339 detached listings in the Central Okanagan in March, 25% above February and 32% higher than March 2023. March detached home sales increased by 43% month-over-month, to 150, and were 22% below March 2023. The months of inventory for detached in the Central Okanagan, at 8.9, reflected a buyers' market.
THIS MONTH No. $1,096,006 $925,000 8.9 150 1,339
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,141,059 $960,000 527% 192 1,011
-4% -4% 70% -22% 32%
$1,043,697 $963,000 10.2 105 1,070
5% -4% -12% 43% 25%
The detached median price in March was $925,000, a 4% decrease from February and 4% below March 2023.
The average sold price was $1,096,006, 5% above last month and down 4% to March 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,349
1,412
1,339
52
1,282
1,240
1,372
1,320
1,154
1,011
1,070
1,054
1,012
967
35
34
258
246
130
120
192
106
105
88
86
150
218
200
166
$1.03M
$971K
$975K
$964K
$968K
$963K
$960K
$950K
$947K
$947K
$926K
$925K
$880K
Mar-23
Feb-24
Mar-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
250
24+
24+
200
18.5
18.4
150
12.0
100
10.2
7.2
50
3.9
2.9
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
5 36 7.2
35 101 2.9
57 220 3.9
25 255 10.2
13 240 18.5
0 138 n/a
7 84 12.0
5 92 18.4
1 60 60.0
2 113 56.5
Copyright © April 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 April 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. 5 ●
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