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.
34 Townhome style homes sold in the Central Okanagan in November 2023. This represents a decrease of 11 unit sales, or -24% when compared to the 45 sales observed last month. When comparing the current months sales (34 sales) to the 33 sales observed in November of 2022, sales have increased by 1 units, or 3%.
328 Townhome style homes were available for purchase in the Central Okanagan in November 2023; this represents a decrease of 2 units, or -1% when compared to the 330 units observed in inventory last month. When comparing this months inventory (328 units) to the 293 units of available inventory observed in November of 2022, inventory has increased by 35 units, or 12%.
$756,500 is the benchmark price for a Townhome style home sold in November 2023; This represents an increase of $17,400 in the benchmark price, or 2.4% when compared to the benchmark price observed last month ($739,100). When comparing the current months benchmark price ($756,500) to the benchmark price $764,141 observed in November 2023 of -1, the benchmark price has decreased by $-7,641, or -1%.
51 Days is the Average time it takes to sell a Townhome style home in the Central Okanagan based on observed sales in November of 2023. This represents an increase of 4 days, or 9% when compared to the average of 47 days to sell a townhome observed last month. When comparing the current months average days on market (51 days) to the average of 52 days on market observed in November of 2022, the average days to sell a home have decreased by 1 days, or -2%.
When looking at November YTD Townhome sales for each respective year since 2015, 2023 sales currently rank 7th.
62 Condominium style homes sold in the Central Okanagan in November 2023. This represents a decrease of 14 unit sales, or -18% when compared to the 76 sales observed last month. When comparing the current months sales (62 sales) to the 72 sales observed in November of 2022, sales have decreased by 10 units, or -14%.
581 Condominium style homes were available for purchase in the Central Okanagan in November 2023; this represents an increase of 47 units, or 9%, when compared to the 534 units observed in inventory last month. When comparing this months inventory (581 units) to the 443 units of available inventory observed in November of 2022, inventory has increased by 138 units, or 31%.
$496,200 is the benchmark price for a Condominium style home sold in November 2023; This represents a decrease of $-21,100 in the average sales price, or -4.1% when compared to the benchmark price observed last month ($517,300). When comparing the current months benchmark price ($496,200) to the benchmark price $506,844 observed in of -1, the benchmark price has decreased by $-10,644, or -2.1%.
53 Days is the Average time it takes to sell a Condominium style home in the Central Okanagan based on observed sales in November of 2023. This represents an increase of 1 day, or 2% when compared to the average of 52 days to sell a condominium observed last month. When comparing the current months average days on market (53 days) to the average of 51 days on market observed in November of 2022, the average days to sell a home have increased by 2 days, or 4%.
When looking at November YTD Condominium sales for each respective year since 2015, 2023 sales currently rank 6th.
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