central okanagan CONDO - MARCH 2 0 2 4
MONTHS OF INVENTORY 8.0 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 36% VS 2023
▼ 2% VS 2023
▼ 5% VS 2023
▼ 34% VS 2023
There were 678 condo listings in the Central Okanagan in March, 16% above February and 36% higher than March 2023. March condo sales increased by 33% month-over-month, to 85, and were 34% below March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 129 500
% Change
No.
% Change
The months of inventory for condos in the Central Okanagan, at 8.0, reflected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$481 $467,898 $438,500 8.0 85 678
106% -34% 36%
$529 $470,702 $450,950 9.1 64 583
33% 16%
The condo median price in March was $438,500, a 3% decrease from February and 5% below March 2023. The average sold price was $467,898, 0.6% below last month; the average PSF sale price was $481, down 9% to last month.
$494 $478,213 $460,000 388%
-9% -0.6% -3% -12%
-3% -2% -5%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 678
41
578
545
535
583
35
543
500
34
511
507
497
490
485
481
145
139
127
129
74
61
55
135
85
43
94
76
64
$500K
$491K
$471K
$461K
$464K
$464K
$460K
$450K
$451K
$451K
$439K
$430K
$405K
Mar-23
Feb-24
Mar-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.
300
4 1
19.0
4+ bdrms
250
17.7
15.0
200
7
3 bdrms
84
150
100
6.4
55
5.4
2 bdrms
3.7
430
50
0
22
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 3 11 3.7 25 135 5.4 46 294 6.4 7 133 19.0 3 53 17.7 1 15 15.0 0 7 n/a 0 30 n/a
<2 bdrms
160
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. 7 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online