For condominiums, 170 condos sold, an increase of 93% versus September last year. The market absorbed a lot of inventory bringing condominiums back into balance. September did show some median price appreciation - the first month this year that has happened.
For townhomes, 122 units sold, an increase of 79% vs. September last year. Inventory dropped 10% lower than last year same time. Median price $525,000 up from the highs 400’s this past spring.
For lots, sales were brisk! 50 lots sold for an increase of 163%, reflecting low inventory of resale homes and a willingness from buyers to buy new construction. Inventory dropped 27% versus this time last year, and the median price matched last years high of $340,000.
Overall interest rates remain low. The market is on track to exceed sales numbers from 2019, and come close to matching or exceeding 2018. There are still lots of buyers looking and low inventory, prompting price appreciation. Buyers are coming here from Ontario, Alberta, and especially the lower mainland. There is a trend of people leaving the city for a quieter less crowded place to live, making the Okanagan very desirable for buyers.
To receive a list of homes for sale, contact Dave for auto email access to mls. Or search the local mls right here on this site.
To receive a list of homes for sale, contact Dave for auto email access to mls. Or search the local mls right here on this site.