city of kelowna DETACHED - APRIL 2 0 2 4
MONTHS OF INVENTORY 7.8 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.4% VS 2023
▲ 50% VS 2023
▼ 3% VS 2023
▼ 6% VS 2023
There were 1,058 detached listings in the City of Kelowna in April, 13% above March and 50% higher than April 2023. April detached home sales increased by 28% month-over-month, to 136, and were 6% below April 2023. The months of inventory for detached in the City of Kelowna, at 7.8, reflected a balanced market.
THIS MONTH No. $1,109,333 $1,030,000 7.8 136 1,058
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 145 706
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
-3% 0.4% 60% -6% 50%
106 935
-5% 8% -12% 28% 13%
The detached median price in April was $1,030,000, a 8% increase from March and 0.4% above April 2023.
$1,162,217 $955,000 8.8
$1,146,338 $1,026,000 4.9
The average sold price was $1,109,333, 5% below last month and down 3% to April 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,058
37
970
957
935
925
35
873
854
34
909
777
706
749
708
670
181
156
124
106
93
88
145
74
136
66
64
63
125
$1.03M
$1.03M $1.06M $1.04M $1.00M $1.02M $1.04M
$1.01M
$996K
$993K
$989K
$955K
$915K
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
200
24+
24.0
24+
22.3
150
100
11.6
50
4.8
4.0
3.5
2.5
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
3 12 4.0
18 45 2.5
43 151 3.5
42 203 4.8
17 197 11.6
5 132 26.4
4 89 22.3
3 72 24.0
0 59 n/a
1 98 98.0
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. 8 ●
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