kelowna north CONDO - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 12.4 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 18% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 7% VS 2023
▼ 13% VS 2023
▼ 11% VS 2023
▼ 7% VS 2023
There were 174 condo listings in Kelowna North in October, 5% above September and 7% higher than October 2023. October condo sales increased by 40% month-over-month, to 14, and were 7% below October 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Kelowna North, at 12.4, re&ected a buyers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$584 $591,536 $552,500 12.4 14 174
$712 $680,447 $617,500 10.9 15 163
-18% -13% -11% 14% -7% 7%
$660 $649,590 $570,000 16.6 10 166
-11% -9% -3% -25% 40% 5%
The condo median price in October was $552,500, a 3% decrease from September and 11% below October 2023. The average sold price was $591,536, 9% below last month; the average PSF sale price was $584, down 11% to last month.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
202
208
195
55
173
171
191
174
185
179
163
166
45
144
127
29
32
28
18
16
15
12
11
10
8
5
15
14
23
$618K
$600K
$580K
$570K
$553K
$517K
$515K
$520K
$522K
$520K
$485K
$440K
$433K
Oct-23
Sep-24
Oct-24
▶ 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
21.0
20.5
50
4+ bdrms
1
40
3 bdrms
30
25
8.0
7.9
20
12
5.0
2 bdrms
10
101
0
2
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 1 5 5.0 1 21 21.0 7 55 7.9 2 41 20.5 3 24 8.0 0 6 n/a 0 4 n/a 0 18 n/a
<2 bdrms
47
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. 26 ●
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