west kelowna DETACHED - APRIL 2 0 2 4
MONTHS OF INVENTORY 7.7 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 42% VS 2023
▼ 11% VS 2023
▼ 4% VS 2023
▼ 20% VS 2023
There were 346 detached listings in West Kelowna in April, 18% above March and 42% higher than April 2023. April detached home sales increased by 25% month-over-month, to 45, and were 20% below April 2023. The months of inventory for detached in West Kelowna, at 7.7, reflected a balanced market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$970,060 $858,500 7.7 45 346
$1,092,460 $890,500 4.3 56 243
-11% -4% 77% -20% 42%
$969,903 $892,500 8.1 36 293
0% -4% -6% 25% 18%
The detached median price in April was $858,500, a 4% decrease from March and 4% below April 2023.
The average sold price was $970,060, 0.0% above last month and down 11% to April 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
346
38
314
298
295
293
270
292
289
266
243
31
29
231
206
206
63
64
62
36
56
31
31
27
25
45
21
18
33
$970K
$945K
$950K
$900K
$891K
$885K
$893K
$870K
$850K
$859K
$820K
$815K
$800K
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
80
70
24+
60
50
14.8
40
14.0
30
9.5
9.1
20
5.0
4.6
10
1.8
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
4 7 1.8
9 45 5.0
16 74 4.6
8 73 9.1
4 59 14.8
2 19 9.5
1 14 14.0
1 25 25.0
0 11 n/a
0 19 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. 14 ●
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