April sales across the South Okanagan came in at 170, down 2 to 3% from last year, while active listings sat about 19% above the 10-year average at 1,335. That puts the overall market at roughly 7.85 months of inventory, still in buyer territory, though new listings are also down about 11%, which is helping the market edge toward balance.
Single-family homes are close to balanced, just into buyer territory at 6.13 months of inventory, with sales actually up 3.7% over last year and days on market around 63. Townhomes are performing even better, sales up over 10% year-over-year, with a 97% list-to-sale ratio.
Condos are the softer segment here too, with 9.6 months of inventory and only 30 sales in April. On pricing, the single-family benchmark sits just over $750,000, townhomes around $525,000, and condos at roughly $436,000, and all three categories have actually trended upward over the past three months.
If you're buying or selling in the South Okanagan, I'd be happy to answer any questions about how these trends apply to your specific situation. Just reach out.
Get In Touch