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 Central Okanagan real estate to make sure you’re always on top of the market.
95 Townhome style homes sold in the Central Okanagan in April 2022. This represents an increase of 12 unit sales, or 14% when compared to the 83 sales observed last month. When comparing the current months sales (95 sales) to the 127 sales observed in April of 2021, sales have decreased by 32 units, or -25%.
178 Townhome style homes were available for purchase in the Central Okanagan in April 2022; this represents an increase of 50 units, or 39%, when compared to the 128 units observed in inventory last month. When comparing this months inventory (178 units) to the 148 units of available inventory observed in April of 2021, inventory has increased by 30 units, or 20%.
$774,601 is the average price for a Townhome style home sold in April 2022; this represents a decrease of $85,972 in the average sales price, or -10% when compared to the average price of sales observed last month ($860,573). When comparing the current months average sale price ($774,601) to the average sale price $641,003 observed in April of 2021, the sale price has increased by $133,598, or 21%.
19 Days is the Average time it takes to sell a Townhome style home in the Central Okanagan based on observed in sales in April of 2022. This represents a decrease of 10 days, or -34% when compared to the average of 29 days to sell a single family home observed last month. When comparing the current months average days on market (19 days) to the average of 38 days on market observed in April of 2021, the average days to sell a home have decreased by 19 days, or -50%.
When looking at April YTD Townhome sales for each respective year since 2015, 2022 sales currently rank 2nd.
168 Condominium style homes sold in the Central Okanagan in April 2022. This represents a decrease of 33 unit sales, or -16% when compared to the 201 sales observed last month. When comparing the current months sales (168 sales) to the 249 sales observed in April of 2021, sales have decreased by 81 units, or -33%.
281 Condominium style homes were available for purchase in the Central Okanagan in April 2022; this represents an increase of 36 units, or 15%, when compared to the 245 units observed in inventory last month. When comparing this months inventory (281 units) to the 365 units of available inventory observed in April of 2021, inventory has decreased by 84 units, or -23%.
$548,560 is the average price for a Condominium style home sold in April 2022; this represents a decrease of $1,768 in the average sales price, or -0.3% when compared to the average price of sales observed last month ($550,328). When comparing the current months average sale price ($548,560) to the average sale price $435,301 observed in April of 2021, the sale price has increased by $113,259, or 26%.
27 Days is the Average time it takes to sell a Condominium style home in the Central Okanagan based on observed in sales in April of 2022. This represents a decrease of 2 days, or -7% when compared to the average of 29 days to sell a single family home observed last month. When comparing the current months average days on market (27 days) to the average of 38 days on market observed in April of 2021, the average days to sell a home have decreased by 11 days, or -29%.
When looking at April YTD Condominium sales for each respective year since 2015, 2022 sales currently rank 2nd.
Millennial Developments is bringing exciting new developments to both the townhome and condominium market with The Nest at Findlay, featuring three-storey townhouses with spacious layouts, and Five Crossings, a collection of suites, 1 and 2 bedroom living environments designed to simplify life and maximize lifestyle. Register today for more information about either of these new residential products.
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