Real estate sales in the Central Okanagan picked up last month compared to July 2024, but still lag way behind the 10-year average.<\/p>\n\n\n\n
According to figures released by the Rennie Advance real estate analysis report, overall sales in the Central Okanagan increased by 6% over sales in the same month one year ago, but are 21% below the decade average.<\/p>\n\n\n\n
The price of a single-family home in the Central Okanagan remained relatively unchanged, with the Rennie Advance reporting a median price of $936,000 and the Association of Interior Realtors putting the benchmark price, which is calculated slightly differently, at $1,045,000.<\/p>\n\n\n\n
The Association of Interior Realtors says there were 10% more sales across the entire Southern Interior than in July 2024.<\/p>\n\n\n\n
For the first time this year, housing inventory in the Central Okanagan declined month over month, but is still significantly higher than the 10-year average, with 43% more properties on the market in July than normal.<\/p>\n\n\n\n
While there were slightly fewer single-family and townhomes on the market than July 2024, inventory for condos increased by 24%. Compared with the 10-year average there are 66% more condos on the market in the Central Okanagan, 39% more townhomes, and 34% more single-family homes.<\/p>\n\n\n\n
In the North and South Okanagan sales increased by 1% and 2% respectively compared to July 2024 with prices holding steady.<\/p>\n\n\n\n
The association of realtors puts the benchmark price for a single-family home in the North Okanagan at $770,500 and in the South Okanagan $754,5000.<\/p>\n\n\n\n
The benchmark price of a townhome in the North Okanagan is $563,000 and in the South Okanagan $512,000 \u2013 on par with prices 12 months ago.<\/p>\n\n\n\n
While there were considerably more condos on the market compared with last year, prices in the Central Okanagan actually increased 2%, with the benchmark price of a condo going for $505,000.<\/p>\n\n\n\n
The benchmark price of a condo in the North Okanagan is $321,000 and in the South Okanagan it’s $432,000, with prices in both markets remaining largely unchanged.<\/p>\n\n\n\n
In Kamloops, sales of single-family homes increased 14% with prices up 2% to $673,000.<\/p>\n\n\n\n
The price of a townhome in Kamloops increased by 1% while sales fell 20%. The benchmark price for a Kamloops townhome is now $533,000<\/p>\n\n\n\n
Sales of condos in Kamloops almost doubled from July 2024, with 34 units being sold. Condo inventory climbed 34%, and prices dropped by 6% to $363,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
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