west kelowna CONDO - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 11.6 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 72% VS 2022
▼ 14% VS 2022
▼ 12% VS 2022
▼ 36% VS 2022
There were 81 condo listings in West Kelowna in October, 5% above September and 72% higher than October 2022. October condo sales decreased by 13% month-over-month, to 7, and were 36% below October 2022. The months of inventory for condos in West Kelowna, at 11.6, reflected a buyers' market. The condo median price in October was $457,500, a 1.4% decrease from September and 12% below October 2022. The average sold price was $432,929, 9% below last month; the average PSF sale price was $511, up 16% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$511 $432,929 $457,500 11.6 7 81
11 47
2% -14% -12% 171% -36% 72%
$441 $475,813 $464,000 9.6 8 77
16% -9% -1.4% 20% -13% 5%
$499 $503,364 $520,000 427%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
77
81
43
73
69
62
64
61
61
50
34
59
47
41
27
36
21
21
18
10
9
18
11
6
4
7
11
9
8
$520K
$500K
$502K
$478K
$467K
$465K
$464K
$458K
$448K
$433K
$430K
$415K
$398K
Oct-22
Sep-23
Oct-23
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
40
24+
4+ bdrms
30
3 bdrms
20
4
5
10
6.5
2 bdrms
55
0
2
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 29 29.0 6 39 6.5 0 8 n/a 0 5 n/a
<2 bdrms
22
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. 16 ●
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