city of kelowna DETACHED - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 12.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 16% VS 2022
▼ 18% VS 2022
▼ 8% VS 2022
▼ 14% VS 2022
There were 971 detached listings in the City of Kelowna in October, 1.3% below September and 16% higher than October 2022. October detached home sales decreased by 10% month-over-month, to 81, and were 14% below October 2022. The months of inventory for detached in the City of Kelowna, at 12.0, reflected a buyers' market. The detached median price in October was $970,000, a 1.0% decrease from September and 8% below October 2022. The average sold price was $1,098,673, 4% below last month and down 18% to October 2022.
THIS MONTH No. $1,098,673 $970,000 12.0 81 971
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,336,165 $1,055,000 888% 94 835
-18% -8% 35% -14% 16%
$1,146,883 $980,000 10.9 90 984
-4% -1% 10% -10% -1.3%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
932
45
971
872
984
919
835
723
680
780
37
708
36
629
584
583
182
160
132
122
87
89
90
64
45
94
81
128
120
$1.07M
$1.06M
$1000K
$998K
$997K $1.06M $1.06M $1.02M $1.03M
$980K
$970K
$940K
$915K
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
24+
24+
24+
23.7
150
100
14.3
11.9
50
5.9
5.6
2.8
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
11 31 2.8
10 59 5.9
24 135 5.6
12 171 14.3
14 166 11.9
4 112 28.0
3 71 23.7
1 76 76.0
0 50 n/a
2 100 50.0
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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