Millennial Developments uses data-driven analytics to identify opportunities that offer the ability for preferred return on investment, providing superior risk-adjusted returns and defined exit strategies for investors. We believe that informed clients make the best investors, so we share monthly updates on the Central Okanagan real estate to make sure you’re always on top of the market.
“67 Townhome style homes sold in the Central Okanagan in January 2022. This represents an increase of 14 unit sales, or 26% when compared to the 53 sales observed last month. When comparing the current months sales (67 sales) to the 76 sales observed in January of 2021, sales have decreased by 9 units, or -12%.
94 Townhome style homes were available for purchase in the Central Okanagan in January 2022; this represents an increase of 11 units, or 13%, when compared to the 83 units observed in inventory last month. When comparing this months inventory (94 units) to the 201 units of available inventory observed in January of 2021, inventory has decreased by 107 units, or -53%.
$707,445 is the average price for a Townhome style home sold in January 2022; this represents an increase of $9,628 in the average sales price, or 1.4% when compared to the average price of sales observed last month ($697,817). When comparing the current months average sale price ($707,445) to the average sale price $593,398 observed in January of 2021, the sale price has increased by $114,047, or 19%.”
“40 Days is the Average time it takes to sell a Townhome style home in the Central Okanagan based on observed in sales in January of 2022. This represents no real change in the average days on market when compared to the prior month. When comparing the current months average days on market (40 days) to the average of 70 days on market observed in January of 2021, the average days to sell a home have decreased by 30 days, or -43%.
When looking at January YTD Townhome sales for each respective year since 2015, 2022 sales currently rank 2nd.”
When looking at January YTD Townhome sales for each respective year since 2015, 2022 sales currently rank 2nd.”
“103 Condominium style homes sold in the Central Okanagan in January 2022. This represents a decrease of 6 unit sales, or -6% when compared to the 109 sales observed last month. When comparing the current months sales (103 sales) to the 106 sales observed in January of 2021, sales have decreased by 3 units, or -3%.
198 Condominium style homes were available for purchase in the Central Okanagan in January 2022; this represents an increase of 9 units, or 5%, when compared to the 189 units observed in inventory last month. When comparing this months inventory (198 units) to the 378 units of available inventory observed in January of 2021, inventory has decreased by 180 units, or -48%.
$532,907 is the average price for a Condominium style home sold in January 2022; this represents an increase of $23,572 in the average sales price, or 4.6% when compared to the average price of sales observed last month ($509,335). When comparing the current months average sale price ($532,907) to the average sale price $375,846 observed in January of 2021, the sale price has increased by $157,061, or 42%.”
“43 Days is the Average time it takes to sell a Condominium style home in the Central Okanagan based on observed in sales in January of 2022. This represents an increase of 12 days, or 39% when compared to the average of 31 days to sell a single family home observed last month. When comparing the current months average days on market (43 days) to the average of 69 days on market observed in January of 2021, the average days to sell a home have decreased by 26 days, or -38%.
When looking at January YTD Condominium sales for each respective year since 2015, 2022 sales currently rank 3rd.”
When looking at January YTD Condominium sales for each respective year since 2015, 2022 sales currently rank 3rd.”
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