MARKET UPDATE | NOVEMBER 2020


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

RESIDENTIAL
Benchmark Price – $728,900 (↑5.09%)
Avg. Days on Market – 57 (↑1.66%)
New Listings – 221 (↓8.74%)⁣
Total Sales – 291 (↑33.11%)⁣
Current Inventory – 504 (↓43.24%)⁣
Months of Inventory – 1.73
Market – Seller's Market

Benchmark prices in the residential market are up 5.09
% year to date. New listings have increased 1.66%, while total sales have increased 33.11%. Current inventory has decreased 43.24%. This has caused months of inventory to move to 1.73, representing a seller's market.

CONDO⁣
Benchmark Price: $387,300 (↑3.73
%)
Avg. Days on Market – 60 (↓1.45%)
New Listings – 155 (↑6.21%)⁣
Total Sales – 169 (↑11.20%)⁣
Current Inventory – 460 (↑3.97%)⁣
Months of Inventory – 2.72
Market – Seller's Market

Benchmark prices in the condo market are up 3.73
% year to date. New listings have increased 6.21%, while total sales have increased 11.20%. Current inventory has increased 3.97%. This has caused months of inventory to move to 2.72, representing a seller's market.⁣

TOWNHOUSES⁣
Benchmark Price – $499,400 (↑2.19
%)
Avg. Days on Market – 63 (↓3.07%)
New Listings – 121 (↓2.54%)⁣
Total Sales – 106 (↑24.53%)⁣
Current Inventory – 241 (↓19.93%)⁣
Months of Inventory – 2.27
Market – Seller's Market

Benchmark prices in the townhouse market are up 2.19
% year to date. New listings have decreased 2.54%, while total sales have increased 24.53%. Current inventory has decreased 19.93%. This has caused months of inventory to move to 2.27, representing a seller's market.

Total listings (supply) are down 5%, while total sales (demand) are up 25%.

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