downtown kelowna DETACHED - APRIL 2 0 2 4
MONTHS OF INVENTORY 10.8 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 18% VS 2023
▲ 32% VS 2023
▲ 70% VS 2023
▼ 7% VS 2023
There were 151 detached listings in Downtown Kelowna in April, 13% above March and 70% higher than April 2023. April detached home sales increased by 40% month-over-month, to 14, and were 7% below April 2023. The months of inventory for detached in Downtown Kelowna, at 10.8, reflected a buyers' market.
THIS MONTH No. $1,096,107 $1,086,500 10.8 14 151
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
15 89
18% 32% 82% -7% 70%
$873,800 $917,500 13.4 10 134
25% 18% -20% 40% 13%
The detached median price in April was $1,086,500, a 18% increase from March and 32% above April 2023.
$927,820 $825,000 5.9
The average sold price was $1,096,107, 25% above last month and up 18% to April 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 151
75
134
118
116
111
100
114
114
60
109
105
89
84
52
77
20
12
10
7
6
15
14
3
1
17
10
9
7
$1.27M
$1.09M
$1.04M
$1.03M $1.02M
$920K
$918K
$901K
$865K
$825K
$799K
$728K
$650K
Apr-23
Mar-24
Apr-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
50
14.0
40
11.5
30
9.0
7.1
20
4.5
10
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
2 9 4.5
2 18 9.0
7 50 7.1
2 23 11.5
0 19 n/a
1 14 14.0
0 5 n/a
0 6 n/a
0 7 n/a
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. 11 ●
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