kelowna south DETACHED - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 15.1 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 45% VS 2023
▲ 63% VS 2023
▲ 75% VS 2023
▼ 3% VS 2023
There were 106 detached listings in Kelowna South in October, 11% below September and 63% higher than October 2023. October detached home sales decreased by 13% month-over-month, to 7, and were 75% above October 2023. The months of inventory for detached in Kelowna South, at 15.1, re&ected a buyers' market. The detached median price in October was $792,500, a 12% decrease from September and 3% below October 2023. The average sold price was $1,184,071, 18% above last month and up 45% to October 2023.
THIS MONTH No. $1,184,071 $792,500 15.1 7 106
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$816,250 $815,000 16.3 4 65
45% -3% -7% 75% 63%
$1,007,313 $904,750 14.9 8 119
18% -12% 1.8% -13% -11%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
119
63
126 126
118
106
89
104
95
76
65
57
59
46
32
11
11
9
29
8
7
6
4
3
7
4
5
3
$1.40M
$1.25M
$1.07M
$1.01M
$920K
$925K
$900K
$905K
$874K
$815K
$793K
$465K
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
19.0
20
15
10
4.5
5
2.0
1.0
0
N/A
<$600K
$600K-799K $800K-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 $3.0M+
MOI INVENTORY SALES
1 1 1.0
3 6 2.0
1 19 19.0
0 21 n/a
0 13 n/a
0 17 n/a
0 17 n/a
2 9 4.5
0 1 n/a
0 2 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. 27 ●
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