Real Estate Statistics: December 2024
The December 2024 real estate statistics show a buyer’s market in the Central Okanagan.
-Detached Homes saw 116 sales, 1,019 active listings, and an average price of $1,023,700.
-Condos saw 69 sales, 594 active listings, and an average price of $475,500.
-Townhomes saw 40 sales, 321 active listings, and an average price of $746,400.
It appears demand is starting to return with a decrease in interest rates. The big question for 2025 is: Will there be enough listings to balance this offset this demand or will we swing back to balanced market conditions?
The real estate statistics also show the condo market has slowed. Meanwhile, townhomes and single-family homes are on the rise. Many new condos are being built. Because of this, single-family homes may see higher prices in 2025. Condos and townhomes will still offer great buying opportunities due to strong inventory levels.
Buying or selling in 2025?
Contact David Jurome Personal Real Estate Corporation or Jaxon Jurome Personal Real Estate Corporation at Jurome Real Estate Group – Macdonald Realty Interior: 250-300-0375.
📊 Stats provided by the Association of Interior Realtors.