PLEASE NOTE: Average prices indicate market trending only. They do not reflect actual prices which vary from house to house and area to area. The Median sale price is the midpoint of sales during the month. The Average and Median Sold Prices are for Single Family Homes and do not include Residential Waterfront Properties.

How's The Market?

 

We pulled this chart from the OMREB database. It reflects the months of inventory and market status for Single family homes in the Central Okanagan.  You can see that we are into a more balanced market ( 6 months of inventory on hand). When you look at the information below - you will see that the listings now are outpacing the sales DRAMATICALLY which is leading the shift in market dynamics.

The following information is based on data reported June 1st -  30th to the Okanagan Mainline Real Estate Board.

Based on June 1st -  30th

Condo/Apartments

 

Sales

122

New Listings

247

Current Inventory

551

Number of Months

5

Sell/Inv. Ratio

22.14%

Days to Sell

40

Days – Range

7 to 144

Average Price

$359,860

Median Price

$338,000

Price - Range

$74,501  -  $925,900

Hottest Neighbourhood

Kelowna North



Condo/Townhouses

 

Sales

72

New Listings

142

Current Inventory

341

Number of Months

5

Sell/Inv. Ratio

21.11%

Days to Sell

51

Days – Range

3 to 350

Average Price

$501,989

Median Price

$482,500

Price - Range

$205,000  -  $1,375,000

Hottest Neighbourhood

North Glenmore

 


Lots & Acreages

 

Sales

22

New Listings

66

Current Inventory

393

Number of Months

12

Sell/Inv. Ratio

5.60%

Days to Sell

72

Days – Range

1 to 441

Average Price

$242,925

Median Price

$234,500

Price - Range

$58,500  -  $470,000

Hottest Neighbourhood

Fintry

 


Residential Single Family Homes

 

Sales

228

New Listings

565

Current Inventory

1,195

Number of Months

5

Sell/Inv. Ratio

19.08%

Days to Sell

42

Days – Range

8 to 343

Average Price

$717,720

Median Price

$671,000

Price - Range

$326,000  -  $7,298,000

Hottest Neighbourhood

Lakeview Heights

 


Ratio of Sales vs Inventory                 18.43%