west kelowna DETACHED - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 10.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.2% VS 2022
▲ 1.0% VS 2022
▲ 24% VS 2022
▼ 21% VS 2022
There were 270 detached listings in West Kelowna in November, 7% below October and 24% higher than November 2022. November detached home sales decreased by 13% month-over-month, to 27, and were 21% below November 2022. The months of inventory for detached in West Kelowna, at 10.0, reflected a buyers' market. The detached median price in November was $850,000, a 11% decrease from October and 1.0% above November 2022. The average sold price was $1,027,037, 0.5% below last month and up 0.2% to November 2022.
THIS MONTH No. $1,027,037 $850,000 10.0 27 270
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,025,000 $841,500 638% 34 217
0.2% 1% 57% -21% 24%
$1,032,456 $950,000 9.3 31 289
-0.5% -11% 7% -13% -7%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
298
314
295
39
292
289
270
35
266
222
217
243
30
186
170
169
64
63
62
56
34
31
24
20
34
27
43
33
31
$970K
$945K
$945K
$950K
$921K
$900K
$891K
$885K
$855K
$850K
$842K
$800K
$785K
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
70
60
24+
50
18.0
40
13.0
30
9.3
8.0
20
4.0
10
2.9
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
1 4 4.0
11 32 2.9
7 65 9.3
5 40 8.0
1 48 48.0
0 16 n/a
0 16 n/a
0 18 n/a
1 13 13.0
1 18 18.0
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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