November Real Estate Sales Statistics – Kelowna and The Central Okanagan
November real estate sales in Kelowna continued to decline as we wind down toward the new year. There were 844 residential unit sales recorded across the region in November. This was a
48.4% decrease in sales compared to units sold during the uncontrollable market of November
2021. This number also represents a decrease of 15.6% compared to last month’s sales.
While sales volume continues to decline the overall inventory saw an 85.3% increase. Bringing the availability in November 2021 to 6,980 units on the market. Great news for buyers looking for a specific choice and more selection.
Conversely, while inventory skyrocketed compared to last year and sales plummeted the benchmark sales price in the Central Okanagan steadily increased this month. The benchmark price for single-family homes in the Central Okanagan rose 0.5% to $1,013,800, while townhomes saw an increase of 4.2% to $756,900 and finally, condos and apartments in the Central Okanagan rose 2.1% to an average of $511,200.
The days on market required to sell your Central Okanagan home increased by one extra day and is now resting at 65 days.
Get in touch with us to learn more about November real estate sales in Kelowna and what to expect heading into the New Year!
November Real Estate Sales – Kelowna