west kelowna DETACHED - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 7.9 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.6% VS 2022
▲ 3% VS 2022
▲ 31% VS 2022
▲ 27% VS 2022
There were 332 detached listings in West Kelowna in October, 7% below September and 31% higher than October 2022. October detached home sales increased by 5% month-over-month, to 42, and were 27% above October 2022. The months of inventory for detached in West Kelowna, at 7.9, reflected a balanced market. The detached median price in October was $838,000, a 16% increase from September and 3% above October 2022. The average sold price was $889,217, 28% above last month and up 0.6% 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
$889,217 $838,000 7.9 42 332
$883,864 $810,000 767% 33 253
0.6% 3% 3% 27% 31%
$693,204 $719,900 9.0 40 358
28% 16% -12% 5% -7%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
358
334
63
318
332
341
279
253
227
217
249
43
186
171
167
35
65
61
46
40
34
30
30
23
22
42
62
33
48
$985K
$940K
$931K
$925K
$896K
$900K
$857K
$842K
$842K
$838K
$810K
$799K
$720K
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
70
18.7
60
18.0
50
40
30
8.5
8.0
20
5.1
4.8
3.3
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
9 46 5.1
9 30 3.3
8 68 8.5
10 48 4.8
3 56 18.7
1 18 18.0
0 17 n/a
2 16 8.0
0 11 n/a
0 22 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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