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.
47 Townhome style homes sold in the Central Okanagan in September 2022. This represents a decrease of 7 unit sales, or -13% when compared to the 54 sales observed last month. When comparing the current month’s sales (47 sales) to the 75 sales observed in September of 2021, sales have decreased by 28 units, or -37%.
295 Townhome style homes were available for purchase in the Central Okanagan in September 2022; this represents an increase of 4 units, or 1%, when compared to the 291 units observed in inventory last month. When comparing this months inventory (295 units) to the 144 units of available inventory observed in September of 2021, inventory has increased by 151 units, or 105%.
$778,794 is the average price for a Townhome style home sold in September 2022; this represents an increase of $32,163 in the average sales price, or 4.3% when compared to the average price of sales observed last month ($746,631). When comparing the current months average sale price ($778,794) to the average sale price $675,248 observed in September of 2021, the sale price has increased by $103,546, or 15%.
43 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 2022. This represents a decrease of 14 days, or -25% when compared to the average of 57 days to sell a single family home observed last month. When comparing the current months average days on market (43 days) to the average of 39 days on market observed in September of 2021, the average days to sell a home have increased by 4 days, or 10%.
When looking at September YTD Townhome sales for each respective year since 2015, 2022 sales currently rank 5th.
102 Condominium style homes sold in the Central Okanagan in September 2022. This represents a decrease of 24 unit sales, or -19% when compared to the 126 sales observed last month. When comparing the current months sales (102 sales) to the 163 sales observed in September of 2021, sales have decreased by 61 units, or -37%.
495 Condominium style homes were available for purchase in the Central Okanagan in September 2022; this represents a decrease of 2 units, or 0%, when compared to the 497 units observed in inventory last month. When comparing this months inventory (495 units) to the 248 units of available inventory observed in September of 2021, inventory has increased by 247 units, or 100%.
$585,664 is the average price for a Condominium style home sold in September 2022; this represents a decrease of $96,989 in the average sales price, or -14.2% when compared to the average price of sales observed last month ($682,653). When comparing the current months average sale price ($585,664) to the average sale price $475,605 observed in September of 2021, the sale price has increased by $110,059, or 23%.
42 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 2022. This represents an increase of 2 days, or 5% when compared to the average of 40 days to sell a single family home observed last month. When comparing the current months average days on market (42 days) to the average of 37 days on market observed in September of 2021, the average days to sell a home have increased by 5 days, or 14%.
When looking at September YTD Condominium sales for each respective year since 2015, 2022 sales currently rank 4th.
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