city of kelowna TOWNHOME - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 8.2 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.6% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 3% VS 2022
▲ 25% VS 2022
▼ 3% VS 2022
▼ 12% VS 2022
There were 294 townhome listings in the City of Kelowna in September, 12% above August and 25% higher than September 2022. September townhome sales decreased by 35% month-over-month, to 36, and were 12% below September 2022. The months of inventory for townhomes in City of Kelowna, at 8.2, reflected a buyers' market. The townhome median price in September was $670,500, a 6% decrease from August and 3% above September 2022. The average sold price was $738,531, 0.8% above last month; the average PSF sale price was $430, down 6% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$430 $738,531 $670,500 8.2 36 294
$437 $761,547 $650,000 573% 41 235
-1.6% -3% 3% 42% -12% 25%
$459 $732,835 $715,500 4.8 55 263
-6% 0.8% -6% 71% -35% 12%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
44
294
255
237
234
263
218
235
228
35
212
34
199
183
181
179
93
62
55
52
43
33
67
29
41
24
36
48
36
$737K
$728K
$715K
$716K
$712K
$708K
$693K
$675K
$671K
$661K
$650K
$643K
$640K
Sep-22
Aug-23
Sep-23
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
60
6
24+
4+ bdrms
60
50
40
18
3 bdrms
13.5
154
30
11.0
9.0
20
11
2 bdrms
5.8
4.8
4.4
76
10
0
1
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 9 40 4.4 11 53 4.8 10 58 5.8 1 60 60.0 2 27 13.5 0 27 n/a 1 11 11.0 2 18 9.0
4
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. 9 ●
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