MARKET UPDATE | SEPTEMBER 2020


How is the market? Here is your September 2020 Central Okanagan Market Stats!

RESIDENTIAL
Benchmark Price – $710,700 (↑3.79%)
Avg. Days on Market – 66 (↑7.60%)
New Listings – 374 (↓10.31%)⁣
Total Sales – 356 (↑20.56%)⁣
Current Inventory – 961 (↓27.90%)⁣
Months of Inventory – 2.32
Market – Seller's Market

Benchmark prices in the residential market are up 3.79
% year to date. New listings have decreased 10.31%, while total sales have increased 20.56%. Current inventory has decreased 27.90%. This has caused months of inventory to move to 2.32, representing a seller's market.

CONDO⁣
Benchmark Price: $385,000 (↑3.79
%)
Avg. Days on Market – 68 (↑4.18%)
New Listings – 218 (↑2.41%)⁣
Total Sales – 170 (↓0.99%)⁣
Current Inventory – 644 (↑6.98%)⁣
Months of Inventory – 3.79
Market – Seller's Market

Benchmark prices in the condo market are up 3.79
% year to date. New listings have increased 2.41%, while total sales have also decreased 0.99%. Current inventory has increased 6.98%. This has caused months of inventory to move to 3.79, representing a seller's market.⁣

TOWNHOUSES⁣
Benchmark Price – $484,500 (↑1.33
%)
Avg. Days on Market – 63 (↓2.42%)
New Listings – 141 (↓7.06%)⁣
Total Sales – 122 (↑8.19%)⁣
Current Inventory – 327 (↓9.92%)⁣
Months of Inventory – 2.68
Market – Seller's Market

Benchmark prices in the townhouse market are up 1.33
% year to date. New listings have decreased 7.06%, while total sales have increased 8.19%. Current inventory has decreased 9.92%. This has caused months of inventory to move to 2.68, representing a seller's market.

Total listings (supply) are down 7%, while total sales (demand) are up 13%.

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
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