MARKET UPDATE | OCTOBER 2020 


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

RESIDENTIAL
Benchmark Price – $728,300 (↑4.50%)
Avg. Days on Market – 59 (↑4.81%)
New Listings – 320 (↓9.25%)⁣
Total Sales – 354 (↑29.32%)⁣
Current Inventory – 666 (↓36.75%)⁣
Months of Inventory – 1.88
Market – Seller's Market

Benchmark prices in the residential market are up 4.50
% year to date. New listings have decreased 9.25%, while total sales have increased 29.32%. Current inventory has decreased 36.75%. This has caused months of inventory to move to 1.88, representing a seller's market.

CONDO⁣
Benchmark Price: $394,500 (↑3.76
%)
Avg. Days on Market – 63 (↑1.39%)
New Listings – 292 (↑4.73%)⁣
Total Sales – 165 (↑5.15%)⁣
Current Inventory – 571 (↑8.35%)⁣
Months of Inventory – 3.46
Market – Seller's Market

Benchmark prices in the condo market are up 3.76
% year to date. New listings have increased 1.39%, while total sales have increased 5.15%. Current inventory has increased 8.35%. This has caused months of inventory to move to 3.46, representing a seller's market.⁣

TOWNHOUSES⁣
Benchmark Price – $492,800 (↑1.73%
)
Avg. Days on Market – 74 (↓1.17%)
New Listings – 113 (↓5.46%)⁣
Total Sales – 136 (↑19.62%)⁣
Current Inventory – 261 (↓20.91%)⁣
Months of Inventory – 1.92
Market – Seller's Market

Benchmark prices in the townhouse market are up 1.73
% year to date. New listings have decreased 1.17%, while total sales have increased 19.62%. Current inventory has decreased 20.91%. This has caused months of inventory to move to 1.92, representing a seller's market.

Total listings (supply) are down 6%, while total sales (demand) are up 10%.

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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