the kelowna rennie review | November 2024

westbank centre TOWNHOME - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 11.5 BUYERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 31% VS 2023

MEDIAN PRICE

TOTAL LISTINGS

SALES

▲ 10% VS 2023

▼ 24% VS 2023

▼ 21% VS 2023

▼ 50% VS 2023

There were 23 townhome listings in Westbank Centre in October, 15% below September and 10% higher than October 2023. October townhome sales remained the same month-over-month, at 2, and were 50% below October 2023. The months of inventory for townhomes in Westbank Centre, at 11.5, re(ected a buyers' market. The townhome median price in October was $461,750, a 31% decrease from September and 21% below October 2023. The average sold price was $461,750, 31% below last month; the average PSF sale price was $535, up 23% 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

$535 $461,750 $461,750 11.5 2 23

$409 $606,750 $585,000 5.3 4 21

31% -24% -21% 119% -50% 10%

$433 $669,000 $669,000 13.5 2 27

23% -31% -31% -15% 0% -15%

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

27

128

25

22

21

21

23

22

22

14

17

16

13

11

5

65

4

4

4

2

2

2

1

1

1

1

4

2

39

$730K

$725K

$665K

$669K

$611K

$613K

$604K

$607K

$585K

$575K

$528K

$480K

$462K

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.

9.0

4+ bdrms

8

4

7.0

6

3 bdrms

7

4

1

2 bdrms

2

12

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 0 3 n/a 0 2 n/a 0 1 n/a 0 1 n/a 1 7 7.0 1 9 9.0

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. 48 ●

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