city of kelowna TOWNHOME - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 7.3 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 13% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2022
▲ 7% VS 2022
▲ 20% VS 2022
▼ 9% VS 2022
There were 284 townhome listings in the City of Kelowna in October, 4% below September and 20% higher than October 2022. October townhome sales increased by 8% month-over-month, to 39, and were 9% below October 2022. The months of inventory for townhomes in the City of Kelowna, at 7.3, reflected a balanced market. The townhome median price in October was $705,000, a 5% increase from September and 7% above October 2022. The average sold price was $735,332, 0.4% below last month; the average PSF sale price was $451, up 5% 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
$451 $735,332 $705,000 7.3 39 284
$398 $697,883 $661,000 551% 43 237
13% 5% 7% 32% -9% 20%
$430 $738,531 $670,500 8.2 36 295
5% -0.4% 5% -11% 8% -4%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
295
44
284
255
40
234
264
237
218
228
212
34
199
183
181
179
92
62
55
52
33
67
29
43
24
39
48
36
36
$737K
$728K
$718K
$716K
$712K
$708K
$705K
$693K
$675K
$671K
$661K
$643K
$640K
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.
60
6
14.3
4+ bdrms
50
58
40
21
9.3
9.2
3 bdrms
151
30
7.0
6.8
6.5
20
11
2 bdrms
3.1
70
10
0
1
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 4 57 14.3 4 27 6.8 3 28 9.3 2 13 6.5 0 15 n/a 13 40 3.1 6 55 9.2 7 49 7.0
5
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. 9 ●
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