city of west kelowna DETACHED - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 8.3 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 15% VS 2023
▲ 29% VS 2023
▼ 12% VS 2023
▼ 6% VS 2023
There were 332 detached listings in the City of West Kelowna in October, 14% below September and 15% higher than October 2023. October detached home sales increased by 38% month-over-month, to 40, and were 29% above October 2023. The months of inventory for detached in the City of West Kelowna, at 8.3, re(ected a buyers' market. The detached median price in October was $895,000, a 1.7% increase from September and 6% below October 2023. The average sold price was $912,505, 11% below last month and down 12% to October 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$912,505 $895,000 8.3 40 332
$1,032,456 $950,000 9.3 31 288
-12% -6% -11% 29% 15%
$1,020,183 $880,000 13.3 29 387
-11% 1.7% -38% 38% -14%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
50
387
427
414
344
387
383
293
332
269
288
38
230
205
205
30
61
60
47
45
36
29
27
25
21
18
40
31
52
$950K
$932K
$910K
$893K
$895K
$880K
$870K
$875K
$859K
$850K
$850K
$820K
$815K
Oct-23
Sep-24
Oct-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
120
24+
100
80
12.1
60
40
4.0
20
0
<$1.0M
$1.0M-$1.4M $1.5M-$1.99M $2.0M-2.24M $2.5M-2.99M $3.0M-3.49M $3.5M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
MOI INVENTORY SALES
29 117 4.0
10 121 12.1
1 50 50.0
0 16 n/a
0 12 n/a
0 3 n/a
0 5 n/a
0 3 n/a
0 1 n/a
0 4 n/a
Copyright © 2024 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 November 12, 2024. 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. 11 ●
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