Market News - October 2020
Fall Weather Spring Market
The Okanagan continues to achieve historical highs in the middle of the pandemic driven recession with a 56.1% increase in sales compared to the same time in 2019. While townhomes and condos continue the trend of static prices, single family homes continue to be in hot demand. The word is out on the Okanagan and people are seeking the extra room of a single family home.
+18.25%
AVERAGE PRICE
increase for sales in 2020 from this time last year.
66
DAYS TO SELL
3% (1 day) slower than this time last year.
$740,000
MEDIAN PRICE
for a single family home in the Okanagan.
Let's Chat
Brody Mader
250-899-1455
brody@okanaganlifestylegroup.com
Kaity Hemminger
250-869-4454
kaity@okanaganlifestylegroup.com
Suite 108 - 1289 Ellis St, Kelowna, BC V1Y 9X6
Where is everyone coming from?
The statistics are clear, people are breaking away from all over to come live the life offered by the Okanagan. Over 40% of sales in September were driven by people moving from outside the Okanagan. The bulk of which (20%) are coming from the lower mainland, followed by Alberta (7%), Eastern Canada (4%), Other BC areas (4%), Sask - Manitoba (3%), Yukon(1%) and outside Canada (1%).
Not intended to solicit properties currently listed for sale or individuals currently under contract. Sotheby’s International Realty Canada is Independently Owned And Operated.