city of kelowna CONDO - APRIL 2 0 2 4
MONTHS OF INVENTORY 5.8 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 6% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.5% VS 2023
▲ 4% VS 2023
▲ 58% VS 2023
▼ 19% VS 2023
There were 541 condo listings in the City of Kelowna in April, 2% above March and 58% higher than April 2023.
April condo sales increased by 27% month-over-month, to 93, and were 19% below April 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 115 343
% Change
No.
% Change
The months of inventory for condos in the City of Kelowna, at 5.8, reflected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$512 $511,889 $475,000 5.8 93 541
-6% 0.5% 4% 95% -19% 58%
$480 $460,511 $435,000 7.2 73 528
7% 11% 9% -20% 27% 2%
The condo median price in April was $475,000, a 9% increase from March and 4% above April 2023. The average sold price was $511,889, 11% above last month; the average PSF sale price was $512, up 7% to last month.
$546 $509,470 $455,000 3.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 541 528
41
431
403
402
36
381
437
394
385
343
369
364
356
28
117
84
115
73
93
57
110
42
40
32
96
60
51
$506K
$488K
$476K
$475K
$462K
$459K
$455K
$454K
$450K
$438K
$435K
$435K
$401K
Apr-23
Mar-24
Apr-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.
250
13.0
4+ bdrms
1
200
9.5
7
150
8.0
3 bdrms
63
5.8
100
5.3
5.0
4.5
68
2 bdrms
50
363
0
18
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 23 104 4.5 46 243 5.3 17 99 5.8 4 38 9.5 1 13 13.0 1 8 8.0 0 31 n/a 1 5 5.0
<2 bdrms
114
Copyright © May 8, 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 May 8, 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. 10 ●
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