city of kelowna DETACHED - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 8.5 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.4% VS 2023
▲ 16% VS 2023
▲ 90% VS 2023
▼ 3% VS 2023
There were 935 detached listings in the City of Kelowna in October, 14% below September and 16% higher than October 2023. October detached home sales increased by 49% month-over-month, to 110, and were 90% above October 2023. The months of inventory for detached in the City of Kelowna, at 8.5, re(ected a buyers' market. The detached median price in October was $1,010,000, a 1.5% decrease from September and 1.4% above October 2023. The average sold price was $1,200,084, 9% above last month and down 3% 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
110 935
$1,236,916 $996,000 13.9 58 808
-3% 1.4% -39% 90% 16%
$1,102,593 $1,025,000 14.6 74 1,082
9% -1.5% -42% 49% -14%
$1,200,084 $1,010,000 8.5
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,082
42
1,077
1,069
1,052
906
978
935
791
808
712
34
636
599
28
567
124
115
100
97
94
81
74
67
56
54
110
58
109
$1.06M
$1.05M $1.00M
$1.00M
$996K $985K $1.00M
$964K $997K $1.02M $1.01M
$950K
$908K
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
350
16.0
16.0
300
14.6
13.6
250
11.0
200
9.2
150
100
4.3
50
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
53 226 4.3
35 323 9.2
14 205 14.6
5 68 13.6
0 40 n/a
1 11 11.0
1 16 16.0
1 16 16.0
0 11 n/a
0 19 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. 8 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online