downtown kelowna DETACHED - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 23.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 3% VS 2022
▼ 33% VS 2022
▼ 20% VS 2022
▼ 69% VS 2022
There were 115 detached listings in Downtown Kelowna in October, 0.9% above September and 3% higher than October 2022. October detached home sales decreased by 44% month-over-month, to 5, and were 69% below October 2022. The months of inventory for detached in Downtown Kelowna, at 23.0, reflected a buyers' market. The detached median price in October was $727,000, a 28% decrease from September and 20% below October 2022. The average sold price was $798,400, 18% below last month and down 33% to October 2022.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$798,400 $727,000 23.0 5 115
$1,198,900 $906,000 700% 16 112
-33% -20% 229% -69% 3%
$977,889 $1,025,000 12.7 9 114
-18% -29% 82% -44% 0.9%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
114
50
115
112
119
114
114
97
110
93
90
81
78
38
76
29
24
17
14
13
10
9
16
7
7
4
14
11
5
$1.17M
$1.05M
$1.04M
$1.03M $1.02M
$980K
$945K
$929K
$906K
$890K
$880K
$825K
$727K
Oct-22
Sep-23
Oct-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
35
30
24+
25
20
15
9.0
10
5.0
5
1.0
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
1 1 1.0
2 10 5.0
1 9 9.0
1 28 28.0
0 32 n/a
0 12 n/a
0 7 n/a
0 5 n/a
0 4 n/a
0 7 n/a
Copyright © November 3, 2023 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 3, 2023. 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.
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