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.
42 Townhome style homes sold in the Central Okanagan in September 2023. This represents a decrease of 25 unit sales, or -37% when compared to the 67 sales observed last month. When comparing the current months sales (42 sales) to the 47 sales observed in September of 2022, sales have decreased by 5 units, or -11%.
347 Townhome style homes were available for purchase in the Central Okanagan in September 2023; this represents an increase of 32 units, or 10%, when compared to the 315 units observed in inventory last month. When comparing this months inventory (347 units) to the 295 units of available inventory observed in September of 2022, inventory has increased by 52 units, or 18%.
$762,100 is the benchmark price for a Townhome style home sold in September 2023; This represents a decrease of $-23,900 in the average sales price, or -3% when compared to the benchmark price observed last month ($786,000). When comparing the current months benchmark price ($762,100) to the benchmark price $778,447 observed in September 2023 of -1, the benchmark price has decreased by $-16,347, or -2.1%.
54 Days is the Average time it takes to sell a Townhome style home in the Central Okanagan based on observed sales in September of 2023. This represents an increase of 9 days, or 20% when compared to the average of 45 days to sell a townhome observed last month. When comparing the current months average days on market (54 days) to the average of 43 days on market observed in September of 2022, the average days to sell a home have increased by 11 days, or 26%.
When looking at September YTD Townhome sales for each respective year since 2015, 2023 sales currently rank 6th.
72 Condominium style homes sold in the Central Okanagan in September 2023. This represents a decrease of 28 unit sales, or -28% when compared to the 100 sales observed last month. When comparing the current months sales (72 sales) to the 101 sales observed in September of 2022, sales have decreased by 29 units, or -29%.
531 Condominium style homes were available for purchase in the Central Okanagan in September 2023; this represents an increase of 24 units, or 5%, when compared to the 507 units observed in inventory last month. When comparing this months inventory (531 units) to the 495 units of available inventory observed in September of 2022, inventory has increased by 36 units, or 7%.
$481,100 is the benchmark price for a Condominium style home sold in September 2023; This represents a decrease of $-44,600 in the average sales price, or -8.5% when compared to the benchmark price observed last month ($525,700). When comparing the current months benchmark price ($481,100) to the benchmark price $514,545 observed in of -1, the benchmark price has decreased by $-33,445, or -6.5%.
58 Days is the Average time it takes to sell a Condominium style home in the Central Okanagan based on observed sales in September of 2023. This represents an increase of 8 days, or 16% when compared to the average of 50 days to sell a condominium observed last month. When comparing the current months average days on market (58 days) to the average of 42 days on market observed in September of 2022, the average days to sell a home have increased by 16 days, or 38%.
When looking at September YTD Condominium sales for each respective year since 2015, 2023 sales currently rank 5th.
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