Courtesy of Darci Sellers

Central Okanagan Stats

BENCHMARK PRICES

$1,018,000 detached

$505,600 condo/ apartment

UP 4.6% year-to-year

UP 0.6% year-to-year

1,046 NEW LISTINGS

SOLD LISTINGS 286

14.8 MONTHS OF INVENTORY

66 DAYS ON MARKET

4,230 ACTIVE LISTINGS

95.95% LIST/SELL RATIO

Local Residential Real Estate Activity Down as Listings Rise

relief to rate-sensitive buyers,” says the Association of Interior REALTORS ® President Kaytee Sharun, adding that “stimulus from recent policy changes, such as the potential for 30 year mortgage amortization and the increase in insured mortgage rate cap, could bolster real estate activity in the coming months.” “There may still be some disconnect between buyers’ and sellers’ expectations, with sellers potentially holding out for a higher payoff while buyers are continuing to take a more cautious approach, which could potentially be contributing to slower decision-making in the market in the region,” notes Sharun. Statistics reflect market activity in September 2024 | Source: Association of Interior REALTORS ® | Market values stated are of the benchmark of the city of Central Okanagan. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

KELOWNA, B.C., October 3, 2024 – Residential real estate sales in September saw lower than anticipated activity despite a healthy stock of active inventory, reports the Association of Interior REALTORS ® (the Association). A total of 1,025 residential unit sales were recorded across the Association region in September. New residential listings saw a decrease of 6.7% compared to September 2023 with 2,370 new listings recorded last month. The total number of active listings saw 27.1% boost of total inventory compared to September 2023 with 9,972 recorded across the Association region. “While active listings are trending upwards, September marked a seemingly sluggish month for sales activity despite anticipation of recent rate cuts potentially providing some

Seniors Real Estate Specialist

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