central okanagan CONDO - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 9.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 26% VS 2023
▼ 10% VS 2023
▼ 3% VS 2023
0.0% VS 2023
There were 687 condo listings in the Central Okanagan in September, 7% below August and 26% higher than September 2023. September condo sales decreased by 11% month-over-month, to 76, and were the same in September 2023. The months of inventory for condos in the Central Okanagan, at 9.0, re*ected a buyers' market. The condo median price in September was $452,100, a 5% increase from August and 3% below September 2023. The average sold price was $464,847, 2% above last month; the average PSF sale price was $483, up 3% 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
$483 $464,847 $452,100 9.0 76 687
$501 $514,008 $463,725 7.2 76 545
-4% -10% -3% 26% 0% 26%
$468 $454,122 $430,000 8.7 85 741
3% 2% 5% 4% -11% -7%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
741
50
49
795
680
758
750
687
707
578
40
545
584
543
497
490
125
113
109
74
65
62
55
43
76
76
98
85
85
$500K
$491K
$475K
$464K
$450K
$450K
$448K
$449K
$452K
$439K
$430K
$430K
$410K
Sep-23
Aug-24
Sep-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
16.2
1
4+ bdrms
250
7
200
4
9.8
9.5
9.0
3 bdrms
150
91
6.1
100
52
3.3
2 bdrms
50
421
0
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 3 10 3.3 29 178 6.1 31 294 9.5 6 97 16.2 5 49 9.8 2 18 9.0 0 10 n/a 0 31 n/a
19
<2 bdrms
168
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 October 9, 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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