Okanagan Real Estate Market Statistics – March 2022

Okanagan Real Estate Market Statistics – March 2022

Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in March 2022.
Find the infographics by visiting the Facebook Album.

Central Okanagan: Kelowna and Lake Country

There were 301 sales, 473 active listings, and $1,129,000 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.

The condo market featured 201 sales and 245 active listings at the end of the month. The average sale price was $557,400. Townhome sales were 83, active listings were 128 and the average sale price was $758,100. It’s a seller’s market in Central Okanagan.

North Okanagan: Vernon and surrounding area

In North Okanagan, including Vernon and the surrounding area and the average sale price was $779,700. At the end of the month, there were 116 sales and 169 active listings. There were 28 sales and 42 active listings for condos. The average sale price was $353,100. In comparison, townhomes featured 51 sales, 26 active listings and a $486,300 average sale price. It’s a seller’s market in North Okanagan.

South Okanagan

There were 87 sales, 198 active listings, and $731,400 average sale price for detached homes in the South Okanagan market.
The condo market featured 56 sales and 80 active listings at the end of the month. The average sale price was $404,400. Townhome sales were 21, active listings were 48 and the average sale price was $494,000. It’s a seller’s market in South Okanagan.

Looking for more information about the real estate market in specific neighbourhoods in Okanagan? 

Macdonald Realty has offices in Kelowna and across BC. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
This blog post is based on market data provided by the Association Of Interior REALTORS® https://www.interiorrealtors.ca/.

Greater Victoria, Saanich Peninsula, Parksville and Nanaimo Real Estate Market Statistics – March 2022

Greater Victoria, Saanich Peninsula, Parksville and Nanaimo Real Estate Market Statistics – March 2022

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Saanich Peninsula, Parksville/Qualicum, and Nanaimo listings and sales in March 2022. Find all the infographics related to the March Market Statistics by visiting the Facebook Album.

A total of 833 properties sold in the Victoria Real Estate Board region this March, 29 per cent fewer than the 1,173 properties sold in March 2021 but a 16 per cent increase from February 2022. Sales of condominiums were down 26 per cent from March 2021 with 279 units sold. Sales of single family homes decreased 28.2 per cent from March 2021 with 412 sold.

“Once again, we have had a record breaker of a month,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “This March had the lowest number of active listings we have seen in a month of March – beating last year’s record low. For context, in the past five years the average number of active listings at the end of March is 1,864 properties. This March had just over one thousand properties at month end. We did see more homes come to market this month compared to February – which is a positive sign – but our supply is still so constricted that multiple offers and competition continues, especially in the lower price ranges. We may see a lift in that pressure if more listings come to market over the spring, but since our inventory is so much lower than average, we have a long way to go to find balance.”

 

Greater Victoria

Saanich Peninsula

Nanaimo

Parksville / Qualicum

Looking for more information about the real estate market in specific neighbourhoods in Victoria, Saanich Peninsula, Parksville, Nanaimo, Vancouver Island and the Gulf Islands? 

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.

Okanagan Real Estate Market Statistics – February 2022

Okanagan Real Estate Market Statistics – February 2022

Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in February 2022.
Find the infographics by visiting the Facebook Album.

Central Okanagan: Kelowna and Lake Country

There were 231 sales, 306 active listings, and $1,094,000 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.

The condo market featured 167 sales and 198 active listings at the end of the month. The average sale price was $550,700. Townhome sales were 99, active listings were 76 and the average sale price was $739,400. It’s a seller’s market in Central Okanagan.

North Okanagan: Vernon and surrounding area

In North Okanagan, including Vernon and the surrounding area and the average sale price was $743,300. At the end of the month, there were 72 sales and 117 active listings. There were 20 sales and 38 active listings for condos. The average sale price was $349,000. In comparison, townhomes featured 30 sales, 41 active listings and a $475,000 average sale price. It’s a seller’s market in North Okanagan.

South Okanagan

There were 86 sales, 137 active listings, and $716,700 average sale price for detached homes in the South Okanagan market.
The condo market featured 32 sales and 83 active listings at the end of the month. The average sale price was $408,000. Townhome sales were 20, active listings were 31 and the average sale price was $486,300. It’s a seller’s market in South Okanagan.

Looking for more information about the real estate market in specific neighbourhoods in Okanagan? 

Macdonald Realty has offices in Kelowna and across BC. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
This blog post is based on market data provided by the Association Of Interior REALTORS® https://www.interiorrealtors.ca/.

Greater Victoria, Saanich Peninsula, Parksville and Nanaimo Real Estate Market Statistics – February 2022

Greater Victoria, Saanich Peninsula, Parksville and Nanaimo Real Estate Market Statistics – February 2022

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Saanich Peninsula, Parksville/Qualicum, and Nanaimo listings and sales in February 2022. Find all the infographics related to the February Market Statistics by visiting the Facebook Album.

A total of 718 properties sold in the Victoria Real Estate Board region this February, 16.8 per cent fewer than the 863 properties sold in February 2021 but a 51.5 per cent increase from January 2021. Sales of condominiums were down 7.9 per cent from February 2021 with 267 units sold. Sales of single family homes decreased 20.8 per cent from February 2021 with 309 sold.

“It was heartening this month to see some more listings come to market in February,” said 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “However, inventory levels remain at record lows and without a strong government focus on increasing supply, buyers will continue to face escalating prices and difficult market conditions.”

 

Greater Victoria

Saanich Peninsula

Nanaimo

Parksville / Qualicum

Looking for more information about the real estate market in specific neighbourhoods in Victoria, Saanich Peninsula, Parksville, Nanaimo, Vancouver Island and the Gulf Islands? 

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.

Greater Victoria, Saanich Peninsula, Parksville and Nanaimo Real Estate Market Statistics – January 2022

Greater Victoria, Saanich Peninsula, Parksville and Nanaimo Real Estate Market Statistics – January 2022

Here are the latest real estate market statistics from Macdonald Realty on Greater Victoria, Saanich Peninsula, Parksville/Qualicum, and Nanaimo listings and sales in January 2022. Find all the infographics related to the January Market Statistics by visiting the Facebook Album.

A total of 474 properties sold in the Victoria Real Estate Board region this January, 26.6 per cent fewer than the 646 properties sold in January 2021 but an 8.2 per cent increase from December 2021. Sales of condominiums were down 13 per cent from January 2021 with 188 units sold. Sales of single family homes decreased 39.7 per cent from January 2021 with 179 sold.

“A cursory glance at our sales numbers could lead to the quick conclusion that our market is slowing down,” says 2022 Victoria Real Estate Board President Karen Dinnie-Smyth. “But what we must consider is not only the number of homes that have sold, but also the number of homes which were for available for sale within the month. To put our inventory into context, last year broke the record for lowest inventory for the month of January. This January broke that record nearly in half and that lack of supply in the market really impacts what our end sales numbers are. Had we seen more homes for sale, it’s likely our result would have been many more sales.”

 

Greater Victoria

Saanich Peninsula

Nanaimo

Parksville / Qualicum

Looking for more information about the real estate market in specific neighbourhoods in Victoria, Saanich Peninsula, Parksville, Nanaimo, Vancouver Island and the Gulf Islands? 

Macdonald Realty has offices in downtown Victoria, Sidney, Parksville and Salt Spring Island. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Victoria Real Estate Board (VREB) www.vreb.org and the Vancouver Island Real Estate Board (VIREB) www.vireb.com. Market data from the VIREB includes listings and sales in Campbell River, Comox Valley, Cowichan Valley Nanaimo, Parksville/Qualicum, Port Alberni/West, North Island, and the Islands.

Okanagan Real Estate Market Statistics – January 2022

Okanagan Real Estate Market Statistics – January 2022

Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in January 2022.
Find the infographics by visiting the Facebook Album.

Central Okanagan: Kelowna and Lake Country

There were 157 sales, 267 active listings, and $1,037,500 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country.

The condo market featured 103 sales and 198 active listings at the end of the month. The average sale price was $515,700. Townhome sales were 67, active listings were 94 and the average sale price was $697,300. It’s a seller’s market in Central Okanagan.

North Okanagan: Vernon and surrounding area

In North Okanagan, including Vernon and the surrounding area and the average sale price was $711,600. At the end of the month, there were 57 sales and 89 active listings. There were 23 sales and 29 active listings for condos. The average sale price was $326,500. In comparison, townhomes featured 25 sales, 30 active listings and a $460,100 average sale price. It’s a seller’s market in North Okanagan.

South Okanagan

There were 57 sales, 128 active listings, and $699,000 average sale price for detached homes in the South Okanagan market.
The condo market featured 25 sales and 76 active listings at the end of the month. The average sale price was $387,300. Townhome sales were 16, active listings were 29 and the average sale price was $438,400. It’s a seller’s market for single family homes and townhomes in South Okanagan.

Looking for more information about the real estate market in specific neighbourhoods in Okanagan? 

Macdonald Realty has offices in Kelowna and across BC. Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
This blog post is based on market data provided by the Association Of Interior REALTORS® https://www.interiorrealtors.ca/.