city of kelowna DETACHED - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 10.9 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 18% VS 2022
▼ 21% VS 2022
▼ 4% VS 2022
▼ 22% VS 2022
There were 979 detached listings in the City of Kelowna in September, 7% above August and 18% higher than September 2022. September detached home sales decreased by 26% month-over-month, to 90, and were 22% below September 2022. The months of inventory for detached in City of Kelowna, at 10.9, reflected a buyers' market. The detached median price in September was $980,000, a 5% decrease from August and 4% below September 2022. The average sold price was $1,146,883, 3% below last month and down 21% to September 2022.
THIS MONTH No. $1,146,883 $980,000 10.9 90 979
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 115 831
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
-21% -4% 51% -22% 18%
122 915
-3% -5% 45% -26% 7%
$1,179,097 $1,033,677 7.5
$1,455,168 $1,025,000 723%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
930
45
979
871
835
42
915
831
723
680
780
37
708
629
583
584
182
160
132
122
87
89
64
115
45
90
128
120
94
$1.07M
$1.02M $1.06M
$1000K
$998K
$997K $1.06M $1.06M $1.02M $1.03M
$980K
$940K
$915K
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
200
24+
23.0
22.4
150
20.0
100
13.5
10.2
7.9
50
2.5
2.1
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
11 23 2.1
19 48 2.5
18 143 7.9
18 184 10.2
9 180 20.0
5 112 22.4
3 69 23.0
0 74 n/a
4 54 13.5
3 92 30.7
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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