downtown kelowna DETACHED - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 14.3 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 2% VS 2022
▼ 31% VS 2022
▼ 32% VS 2022
▼ 42% VS 2022
There were 100 detached listings in Downtown Kelowna in November, 14% below October and 2% higher than November 2022. November detached home sales remained the same month-over-month, at 7, and were 42% below November 2022. The months of inventory for detached in Downtown Kelowna, at 14.3, reflected a buyers' market. The detached median price in November was $650,000, a 19% decrease from October and 32% below November 2022. The average sold price was $721,471, 10% below last month and down 31% to November 2022.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$721,471 $650,000 14.3 7 100
12 98
-31% -32% 75% -42% 2%
$798,714 $799,000 16.6 7 116
-10% -19% -14% 0% -14%
$1,042,075 $955,000 817%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
111
51
118
116
114
114
48
98
109
93
100
89
79
78
76
27
20
17
12
11
10
9
7
7
5
12
17
15
7
$1.09M
$1.05M
$1.04M
$1.03M $1.02M
$955K
$901K
$890K
$865K
$850K
$825K
$799K
$650K
Nov-22
Oct-23
Nov-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
25
10.0
20
15
10
5
1.3
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
2 0 n/a
4 5 1.3
0 13 n/a
0 24 n/a
0 27 n/a
1 10 10.0
0 8 n/a
0 2 n/a
0 4 n/a
0 7 n/a
Copyright © December 13, 2023 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of December 13, 2023. All data from Association of Interior Realtors & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
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