downtown kelowna CONDO |AUGUST2023
TOTAL LISTINGS ▲ 30% VS 202
MONTHS OF INVENTORY 6.8 BALANCED MARKET
▶ MARKETSUMMARY Therewere211condolistingsin D owntown Kelownain August,aboutthesam easJulyand 30% aboveAugust 2022.
AVERAGEPRICE
MEDIAN PRICE
SALES
▼ 2% VS 202
▼ 14% VS 202
▼ 3% VS 202
Augustcondosalesincreased by19% m onth-over-m onth, to31,and were3% below August2022.
THISMONTH No.
PREVIOUSMONTH No.
PREVIOUSYEAR No.
% Change
% Change
TOTALLISTINGS TOTALSALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE
Therewere6.8m onthsofinventoryforcondosin August, reflecting balanced m arketconditions.
$573,703 $485,000 6.8 31 211
$613,715 $545,000 8.1 26 211
-7% -11% -16% 19% 0%
$586,791 $563,150 5.1 32 162
-2% -14% 35% -3% 30%
Thecondom edian pricein Augustwas$485,000,a11% decreasefrom Julyand 14% below August2022.
Theaveragesold pricein Augustwas$573,703forcondos, a7% decreasefrom lastm onth and 2% below lastyear.
▶ RECENTTRENDS
▶ AVERAGEDAYSTO SEL
● SALES ● INVENTORY ● MEDIAN PRICE
211 211
51
180
167
171
166
162
153 158
47
155 155
148
43
122
44
46 43
32 33 22 23
30
25
26 31
13 13
$563,150
$541,500 $510,000
$491,500 $475,000 $480,000
$485,000
Aug-2022 Jul-2023 Aug-2023
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET <5
BALANCED 5-8
BUYERS'MARKET 8+
● SALES ● INVENTORY ● MONTHSOFINVENTORY
30
27.0
25
20
18.0
15
10
8.0
7.0
6.7 6.0
5
4.5 5.0 5.5 5.0
0
<$199K $200-299K $300-399K $400-499K $500-599K $600-699K $700-799K $800-899K $900-999K $1.0-1.249M $1.25-1.49M $1.5M +
1 7 7.0
2 9 4.5
3 15 5.0
4 22 5.5
5 25 5.0
3 24 8.0
3 20 6.7
3 18 6.0
1 27 27.0
1 18 18.0
M onthsofInv. Inventory Sales
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