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.
83 Townhome style homes sold in the Central Okanagan in June 2023. This represents a decrease of 14 unit sales, or -14% when compared to the 97 sales observed last month. When comparing the current months sales (83 sales) to the 77 sales observed in June of 2022, sales have increased by 6 units, or 8%.
297 Townhome style homes were available for purchase in the Central Okanagan in June 2023; this represents an increase of 34 units, or 13%, when compared to the 263 units observed in inventory last month. When comparing this months inventory (297 units) to the 290 units of available inventory observed in June of 2022, inventory has increased by 7 units, or 2%.
$785,900 is the benchmark price for a Townhome style home sold in June 2023; This represents an increase of $18,800 in the benchmark price, or 2.5% when compared to the benchmark price observed last month ($767,100). When comparing the current months benchmark price ($785,900) to the benchmark price $781,990 observed in June 2023 of -1, the benchmark price has increased by $3,910, or 0.5%..
49 Days is the Average time it takes to sell a Townhome style home in the Central Okanagan based on observed sales in June of 2023. This represents an increase of 8 days, or 20% when compared to the average of 41 days to sell a townhome observed last month. When comparing the current months average days on market (49 days) to the average of 25 days on market observed in June of 2022, the average days to sell a home have increased by 24 days, or 96%.
When looking at June YTD Townhome sales for each respective year since 2015, 2023 sales currently rank 5th.”
142 Condominium style homes sold in the Central Okanagan in June 2023. This represents a decrease of 1 unit sales, or -1% when compared to the 143 sales observed last month. When comparing the current months sales (142 sales) to the 102 sales observed in June of 2022, sales have increased by 40 units, or 39%.
499 Condominium style homes were available for purchase in the Central Okanagan in June 2023; this represents an increase of 15 units, or 3%, when compared to the 484 units observed in inventory last month. When comparing this months inventory (499 units) to the 408 units of available inventory observed in June of 2022, inventory has increased by 91 units, or 22%.
$533,100 is the benchmark price for a Condominium style home sold in June 2023; This represents an increase of $16,200 in the benchmark price, or 3.1% when compared to the benchmark price observed last month ($516,900). When comparing the current months benchmark price ($533,100) to the benchmark price $528,345 observed in of -1, the benchmark price has increased by $4,755, or 0.9%.
45 Days is the Average time it takes to sell a Condominium style home in the Central Okanagan based on observed sales in June of 2023. This represents a decrease of 7 days, or -13% when compared to the average of 52 days to sell a condominium observed last month. When comparing the current months average days on market (45 days) to the average of 33 days on market observed in June of 2022, the average days to sell a home have increased by 12 days, or 36%.
When looking at June YTD Condominium sales for each respective year since 2015, 2023 sales currently rank 5th.
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