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.
“53 Townhome style homes sold in the Central Okanagan in December 2021. This represents a decrease of 14 unit sales, or -21% when compared to the 67 sales observed last month. When comparing the current months sales (53 sales) to the 97 sales observed in December of 2020, sales have decreased by 44 units, or -45%.
83 Townhome style homes were available for purchase in theCentral Okanagan in December 2021; this represents a decrease of 25 units, or -23% when compared to the 108 units observed in inventory last month. When comparing this months inventory (83 units) to the 170 units of available inventory observed in December of 2020, inventory has decreased by 87 units, or -51%.
$697,817 is the average price for a Townhome style home sold in December 2021; this represents an increase of $5,397 in the average sales price, or 0.8% when compared to the average price of sales observed last month ($692,420). When comparing the current months average sale price ($697,817) to the average sale price $561,224 observed in December of 2020, the sale price has increased by $136,593, or 24%.”
“40 Days is the Average time it takes to sell a Townhome style home in the Central Okanagan based on observed in sales in December of 2021. This represents a decrease of 11 days, or -22% when compared to the average of 51 days to sell a single family home observed last month. When comparing the current months average days on market (40 days) to the average of 53 days on market observed in December of 2020, the average days to sell a home have decreased by 53 days, or -22%.
When looking at December YTD Townhome sales for each respective year since 2015, 2021 sales currently rank 1st.”
“109 Condominium style homes sold in the Central Okanagan in December 2021. This represents a decrease of 54 unit sales, or -33% when compared to the 163 sales observed last month. When comparing the current months sales (109 sales) to the 102 sales observed in December of 2020, sales have increased by 7 units, or 7%.
189 Condominium style homes were available for purchase in theCentral Okanagan in December 2021; this represents a decrease of 33 units, or -15%, when compared to the 222 units observed in inventory last month. When comparing this months inventory (189 units) to the 367 units of available inventory observed in December of 2020, inventory has decreased by 178 units, or -49%.
$509,335 is the average price for a Condominium style home sold in December 2021; this represents an increase of $7,084 in the average sales price, or 1.4% when compared to the average price of sales observed last month ($502,251). When comparing the current months average sale price ($509,335) to the average sale price $406,994 observed in December of 2020, the sale price has increased by $102,341, or 25%.”
“31 Days is the Average time it takes to sell a Condominium style home in the Central Okanagan based on observed in sales in December of 2021. 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 (31 days) to the average of 65 days on market observed in December of 2020, the average days to sell a home have seen no change.
When looking at December YTD Condominium sales for each respective year since 2015, 2021 sales currently rank 1st.”
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.
Comments