downtown kelowna DETACHED - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 12.7 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▼ 38% VS 2022
▼ 7% VS 2022
▼ 1.7% VS 2022
▼ 25% VS 2022
There were 114 detached listings in Downtown Kelowna in September, no change to August and 1.7% lower than September 2022. September detached home sales decreased by 36% month-over-month, to 9, and were 25% below September 2022. The months of inventory for detached in Downtown Kelowna, at 12.7, reflected a buyers' market. The detached median price in September was $1,025,000, a 0.4% decrease from August and 7% below September 2022. The average sold price was $977,889, 19% below last month and down 38% to September 2022.
THIS MONTH No. $977,889 $1,025,000 12.7 9 114
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,568,021 $1,107,500 967% 12 116
-38% -7% 31% -25% -1.7%
$1,205,311 $1,028,677 8.1 14 114
-19% -0.4% 56% -36% 0%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
114
49
112
116
114
119
114
97
110
44
93
90
81
78
76
29
24
17
16
14
13
11
10
7
7
12
4
9
14
$1.17M
$1.11M
$1.05M
$1.04M
$1.03M $1.02M
$980K
$945K
$929K
$906K
$890K
$880K
$825K
Sep-22
Aug-23
Sep-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
35
30
16.0
25
11.0
20
8.0
15
10
2.7
5
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
0 1 n/a
3 8 2.7
1 8 8.0
3 33 11.0
2 32 16.0
0 12 n/a
0 5 n/a
0 5 n/a
0 4 n/a
0 6 n/a
Copyright © October 16, 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 October 16, 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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