west kelowna DETACHED - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 8.7 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 26% VS 2022
▲ 8% VS 2022
▼ 29% VS 2022
▼ 14% VS 2022
There were 348 detached listings in West Kelowna in September, 5% above August and 26% higher than September 2022. September detached home sales increased by 33% month-over-month, to 40, and were 8% above September 2022. The months of inventory for detached in West Kelowna, at 8.7, reflected a buyers' market. The detached median price in September was $719,900, a 23% decrease from August and 14% below September 2022. The average sold price was $693,204, 33% below last month and down 29% to September 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
$693,204 $719,900 8.7 40 348
$973,568 $832,500 746% 37 276
-29% -14% 17% 8% 26%
$1,039,184 $940,000 11.1 30 333
-33% -23% -22% 33% 5%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
328
63
348
312
333
276
253
275
227
217
248
186
171
167
39
37
66
61
46
34
30
30
23
22
62
40
37
48
33
$987K
$940K
$931K
$925K
$900K
$896K
$857K
$842K
$842K
$833K
$810K
$799K
$720K
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
80
70
24+
60
50
14.8
40
12.3
30
20
10
2.8
2.2
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
13 37 2.8
15 33 2.2
6 74 12.3
4 59 14.8
2 53 26.5
0 20 n/a
0 20 n/a
0 16 n/a
0 13 n/a
0 23 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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