Townhome sales in the Central Okanagan are still tracking below the 10-year average, but this month's numbers moved enough that both buyers and sellers should be paying attention. Inventory remains elevated relative to demand, which continues to put the segment in buyer market territory heading into summer.
Days on market are holding in the 60-70 day range based on final list price, and a meaningful share of sellers are still adjusting price expectations before finding a buyer. Negotiating room between list and sale price has stayed fairly consistent over the past couple of months.
Pricing has held fairly steady month over month, with the benchmark townhome price still well off its 2022 peak. For buyers, that means more selection and more time to be selective than we've seen in years; for sellers, it means pricing realistically and being ready to negotiate matters more than ever.
If you're considering buying or selling a townhome in Kelowna, I'm happy to walk you through what this means for your specific situation. Reach out any time.
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