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.
91 Townhome style homes sold in the Central Okanagan in October 2021. This represents an increase of 16 unit sales, or 21% when compared to the 75 sales observed last month. When comparing the current months sales (91 sales) to the 136 sales observed in October of 2020, sales have decreased by 45 units, or -33%.
136 Townhome style homes were available for purchase in theCentral Okanagan in October 2021; this represents a decrease of 8 units, or -6% when compared to the 144 units observed in inventory last month. When comparing this months inventory (136 units) to the 261 units of available inventory observed in October of 2020, inventory has decreased by 125 units, or -48%.
$677,672 is the average price for a Townhome style home sold in October 2021; this represents an increase of $2,424 in the average sales price, or 0.4% when compared to the average price of sales observed last month ($675,248).
When comparing the current months average sale price ($677,672) to the average sale price $558,727 observed in October of 2020, the sale price has increased by $118,945, or 21%.
154 Condominium style homes sold in the Central Okanagan in October 2021. This represents a decrease of 7 unit sales, or -4% when compared to the 161 sales observed last month. When comparing the current months sales (154 sales) to the 165 sales observed in October of 2020, sales have decreased by 11 units, or -7%.
239 Condominium style homes were available for purchase in theCentral Okanagan in October 2021; this represents a decrease of 9 units, or -4%, when compared to the 248 units observed in inventory last month. When comparing this months inventory (239 units) to the 571 units of available inventory observed in October of 2020, inventory has decreased by 332 units, or -58%.
$492,626 is the average price for a Condominium style home sold in October 2021; this represents an increase of $16,079 in the average sales price, or 3.4% when compared to the average price of sales observed last month ($476,547). When comparing the current months average sale price ($492,626) to the average sale price $387,803 observed in October of 2020, the sale price has increased by $104,823, or 27%.
37 Days is the Average time it takes to sell a Condominium style home in the Central Okanagan based on observed in sales in October 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 (37 days) to the average of 63 days on market observed in October of 2020, the average days to sell a home have seen no change.
When looking at October 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 Finday, featuring three-storey townhouses with spacious layouts, and Five Crossings, A collection of smart suites and 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