How is the market? Here is your February 2020 Central Okanagan Market Stats!
RESIDENTIAL
Benchmark Price – $660,700 (↑0.40%)
Avg. Days on Market – 74 (↑9.35%)
New Listings – 288 (↓8.32%)
Current Inventory – 800 (↓7.30%)
Total Sales – 122 (↑20.20%)
Months of Inventory – 6.56
Market – Balanced
Benchmark prices in the residential market are up 0.40% year to date. New listings have decreased 8.32%, while total sales have increased 20.20%. Current inventory has decreased 7.30%. This has caused months of inventory to move to 6.56, representing a balanced market.
CONDO
Benchmark Price: $396,500 (↑4.82%)
Avg. Days on Market – 72 (↓9.97%)
New Listings – 177 (↑4.86%)
Current Inventory – 495 (↓1.98%)
Total Sales – 88 (↑9.35%)
Months of Inventory – 5.63
Market – Balanced
Benchmark prices in the condo market are up 4.82% year to date. New listings have increased 4.86%, while total sales have increased 9.35%. Current inventory has decreased 1.98%. This has caused months of inventory to move to 5.63, representing a balanced market.
TOWNHOUSES
Benchmark Price – $464,700 (↓1.04%)
Avg. Days on Market – 60 (↓15.59%)
New Listings – 130 (↓6.64%)
Current Inventory – 320 (↓12.57%)
Total Sales – 50 (↑23.94%)
Months of Inventory – 6.40
Market – Balanced
Benchmark prices in the townhouse market are down 1.04% year to date. New listings have decreased 6.64%, while total sales have increased 23.94%. Current inventory has decreased 12.57%. This has caused months of inventory to move to 6.40, representing a balanced market.
Total listings (supply) are down 8%, while total sales (demand) is up 16%.
If you are thinking about buying or selling Real Estate in 2020/2021, let’s chat??.
Kyle B. Janzen, B.Comm
t: (778) 215-2784
e: kylebjanzen@gmail.com