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.
75 Townhome style homes sold in the Central Okanagan in September 2021. This represents a decrease of 1 unit sales, or -1% when compared to the 76 sales observed last month. When comparing the current months sales (75 sales) to the 122 sales observed in September of 2020, sales have decreased by 47 units, or -39%.
144 Townhome style homes were available for purchase in the Central Okanagan in September 2021; this represents an increase of 1 units, or 1%, when compared to the 143 units observed in inventory last month. When comparing this months inventory (144 units) to the 327 units of available inventory observed in September of 2020, inventory has decreased by 183 units, or -56%.
$675,248 is the average price for a Townhome style home sold in September 2021; this represents a decrease of $11,378 in the average sales price, or -1.7% when compared to the average price of sales observed last month ($686,626). When comparing the current months average sale price ($675,248) to the average sale price $563,875 observed in September of 2020, the sale price has increased by $111,373, or 20%.
39 Days is the Average time it takes to sell a Townhome style home in the Central Okanagan based on observed in sales in September of 2021. This represents an increase of 3 days, or 8% when compared to the average of 36 days to sell a single family home observed last month. When comparing the current months average days on market (39 days) to the average of 63 days on market observed in September of 2020, the average days to sell a home have increased by 24 days, or 8%.
When looking at September YTD Townhome sales for each respective year since 2015, 2021 sales currently rank 1st.
161 Condominium style homes sold in the Central Okanagan in September 2021. This represents a decrease of 6 unit sales, or -4% when compared to the 167 sales observed last month. When comparing the current months sales (161 sales) to the 170 sales observed in September of 2020, sales have decreased by 9 units,
or -5%.
248 Condominium style homes were available for purchase in the Central Okanagan in September 2021; this represents an increase of 8 units, or 3%, when compared to the 240 units observed in inventory last month. When comparing this months inventory (248 units) to the 644 units of available inventory observed in September of 2020, inventory has decreased by 396 units, or -61%.
$476,547 is the average price for a Condominium style home sold in September 2021; this represents an increase of $28,651 in the average sales price, or 6.4% when compared to the average price of sales observed last month ($447,896). When comparing the current months average sale price ($476,547) to the average sale price $392,286 observed in September of 2020, the sale price has increased by $84,261, or 21%.
37 Days is the Average time it takes to sell a Condominium style home in the Central Okanagan based on observed in sales in September of 2021. This represents an increase of 6 days, or 19% when compared to the average of 31 days to sell a single family home observed last month. When comparing the current months average days on market (37 days) to the average of 68 days on market observed in September of 2020, the average days to sell a home have increased by 31 days, or 19%.
When looking at September 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.
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