Here is a view from a lot in Peachland that could be the future home of townhomes.
As expected listings continue to decrease as we head into winter, however, sales continue to increase signaling strong demand. The total value of homes currently on the market right now in Central Okanagan is $1,691,455,397.
There were 757 new listings in October which was up 4% compared to the 5-year average, however, 78% of the new inventory was absorbed (sold), and overall inventory continues to decrease and we saw some homes be taken off the market in preparation for winter.
596 total sales in October (Up from 568 sales in September and the October historic 5-year average is 520 sales.)
1299 total active listings which is down from 1374 in September compared to the 5 year average of 2,382 listings for October we are sitting at 54% of the average amount of listings for this time of year.
October median days to sell was 22 where the 5 year average 43 days. The average days to sell was 41 which is compared to the 5-year average at 66 which continues to signal strong demand and motivation of buyers and sellers.
Single Family Residential Homes
Single-Family Sales 272
New Listings 376
Current Inventory 645 (672 in August 2021 and 852 last October)
Total Sold Dollar Value $319,659,353
Median Days to Sell 20
Average Days to Sell 37
Average Price $1,175,218 up from the past 5 year average of $763,476 and $921,987 last year
Median Price $958,375 up from $764,500 last year and the 5 year average of $659,000
Townhome Activity
Townhome Sales 91 (136 last October)
New Listings 103
Current Inventory 137 (5 Year October Average 281)
Total Sold Dollar Value $61,668,123
Average Days to Sell 36
Median Days to Sell 23
Average Price $677,672 ($558,727 last October)
Median Price $667,000 ($527,250 last October)
Apartment/Condo
Condo/Apt Sales 155
New Listings 186
Current Inventory 239 (5 Year October Average 444)
Average Days to Sell 37
Median Days to Sell 25
Average Price $492,384 ($387,803ast October)
Median Price $439,900 (360,000 last October)
Let me know if there is anything I can do for you! Have a great week and feel free to reach out with any questions!
Mark