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.
77 Townhome-style homes sold in the Central Okanagan in June 2022. This represents a decrease of 14 unit sales, or -15% when compared to the 91 sales observed last month. When comparing the current months sales (77 sales) to the 101 sales observed in June of 2021, sales have decreased by 24 units, or -24%.
290 Townhome style homes were available for purchase in the Central Okanagan in June 2022; this represents an increase of 77 units, or 36%, when compared to the 213 units observed in inventory last month. When comparing this months inventory (290 units) to the 161 units of available inventory observed in June of 2021, inventory has increased by 129 units, or 80%.
$694,794 is the average price for a Townhome style home sold in June 2022; this represents a decrease of $73,361 in the average sales price, or -9.6% when compared to the average price of sales observed last month ($768,155). When comparing the current months average sale price ($694,794) to the average sale price $636,277 observed in June of 2021, the sale price has increased by $58,517, or 9%.
25 Days is the Average time it takes to sell a Townhome style home in the Central Okanagan based on observed in sales in June of 2022. This represents a decrease of 1 day, or -4% when compared to the average of 26 days to sell a single family home observed last month. When comparing the current months average days on market (25 days) to the average of 25 days on market observed in June of 2021, the average days to sell a home have seen no change.
When looking at June YTD Townhome sales for each respective year since 2015, 2022 sales currently rank 3rd.
102 Condominium style homes sold in the Central Okanagan in June 2022. This represents a decrease of 62 unit sales, or -38% when compared to the 164 sales observed last month. When comparing the current months sales (102 sales) to the 206 sales observed in June of 2021, sales have decreased by 104 units, or -50%.
408 Condominium style homes were available for purchase in the Central Okanagan in June 2022; this represents an increase of 105 units, or 35%, when compared to the 303 units observed in inventory last month. When comparing this months inventory (408 units) to the 315 units of available inventory observed in June of 2021, inventory has increased by 93 units, or 30%.
$505,412 is the average price for a Condominium style home sold in June 2022; this represents a decrease of $13,225 in the average sales price, or -2.5% when compared to the average price of sales observed last month ($518,637). When comparing the current months average sale price ($505,412) to the average sale price $442,343 observed in June of 2021, the sale price has increased by $63,069, or 14%.
33 Days is the Average time it takes to sell a Condominium style home in the Central Okanagan based on observed in sales in June of 2022. This represents an increase of 8 days, or 32% when compared to the average of 25 days to sell a single family home observed last month. When comparing the current months average days on market (33 days) to the average of 33 days on market observed in June of 2021, the average days to sell a home have seen no change.
When looking at June YTD Condominium sales for each respective year since 2015, 2022 sales currently rank 2nd.
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