More of the Same

Items of Note for May

• North Okanagan Year-over-Year sales were down 12% (161 vs 183) and come in 21% below the 10 Year average (204).  
• Median Selling Price down 4% Year-over-Year while Average Selling Price was pretty much unchanged Year-over-Year.
• the Composite Benchmark Selling Price was unchanged Year-over-Year ($665,600 vs $665,200) but down slightly from April ($670,000).
• The North Okanagan moves back into a Balanced market
• Central Okanagan sales up 3% Year-over-Year (450 vs 436) but come in 20% below the 10 Year Average (560). 
• British Columbia residential home sales for month of May down 13.5% Year-over-Year.  (April was down 14.6% Year-over-Year) 
• Overnight Rate stays at 2.75%, 

Sales

North Okanagan Unit Sales were down 3% Year-over-Year (161 vs 183) which is 21% below the 10 Year Average of 204.  (April sales were also 23% below the 10 Year Avg while March was 23% below the 10 year average).   In the past 10 years only 2020 had fewer sales for the month of May (131).

Median Sales Price

• Median Selling Price was $655,000, which is down 4% Year-over-Year ($685,000), but up from April ($646,000).  

Average Sales Price

• Average Selling Price was $734,855 which is basically unchanged Year-over-Year ($731,365), but is up from April ($698,382).
  
   

Benchmark Price

• Single Family Home Benchmark price is $771,300, which is up Year-Over-Year ($765,400) and up from April ($764,900)
• Townhome Benchmark price is $567,000, which down Year-over-Year ($591,600) and also down from April ($597,800).
• Condo Benchmark price is $325,800, which is unchanged Year-over-Year ($325,100) and unchanged from April ($326,400). 
• The Overall Composite Benchmark Price for the North Okanagan was unchanged Year-over-Year ($665,600 vs $665,200) but down slightly from April ($670,000).

For full report click here