How is the market? Here is your January 2020 Central Okanagan Market Stats!
RESIDENTIAL
Benchmark Price – $658,300 (↑0.22%)
Avg. Days on Market – 84 (↑10.05%)
New Listings – 241 (↓14.84%)
Current Inventory – 743 (↓7.93%)
Total Sales – 116 (↑45.0%)
Months of Inventory – 6.41
Market – Balanced
Benchmark prices in the residential market are up 0.22% year to date. New listings have decreased 14.84%, while total sales have increased 45.0%. Current inventory has decreased 7.93%. This has caused months of inventory to move to 6.41, representing a balanced market.
CONDO
Benchmark Price: $388,300 (↑3.72%)
Avg. Days on Market – 67 (↓14.14%)
New Listings – 156 (↓13.33%)
Current Inventory – 466 (↓2.51%)
Total Sales – 64 (↑6.67%)
Months of Inventory – 7.28
Market – Balanced
Benchmark prices in the condo market are up 3.72% year to date. New listings have decreased 13.33%, while total sales have increased 6.67%. Current inventory has decreased 2.51%. This has caused months of inventory to move to 7.28, representing a balanced market.
TOWNHOUSES
Benchmark Price – $461,300 (↓1.41%)
Avg. Days on Market – 68 (↓21.14%)
New Listings – 95 (↓22.76%)
Current Inventory – 282 (↓15.82%)
Total Sales – 38 (↑15.15%)
Months of Inventory – 7.42
Market – Balanced
Benchmark prices in the townhouse market are down 1.41% year to date. New listings have decreased 22.76%, while total sales have increased 15.15%. Current inventory has decreased 15.82%. This has caused months of inventory to move to 7.42, representing a balanced market.
Total listings (supply) are down 17%, while total sales (demand) is up 26%.
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