downtown kelowna DETACHED|MAY2023
TOTAL LISTINGS ▼ 8% VS 202
MONTHS OF INVENTORY 8.0 BALANCED MARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
SALES
▼ 34% VS 202
▼ 27% VS 202
▼ 26% VS 202
Therewere112detachedlistingsin D owntown Kelownain M ay,23% higherthan Apriland 8% below M ay2022.
M ay detached hom esalesincreased by 27% m onth-over-m onth,to14,and were26% below M ay2022.
THISMONTH No.
PREVIOUSMONTH No.
PREVIOUSYEAR No.
% Change
% Change
TOTALLISTINGS TOTALSALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE
Therewere8.0m onthsofinventoryfordetached hom esin M ay,reflecting balanced m arketconditions.
$936,286 $945,000 8.0 14 112
11 91
0.1% 15% -3% 27% 23%
$1,421,000 $1,288,000 6.4 19 122
-34% -27% 25% -26% -8%
$935,545 $825,000 8.3
Thedetachedm edian pricein M aywas$945,000,a15% increasefrom Apriland 27% below M ay2022.
Theaveragesold pricein M aywas$936,286 fordetached hom es,a0.1% increasefrom lastm onth and 34% below last year. ▶ AVERAGEDAYSTO SEL
▶ RECENTTRENDS
● SALES ● INVENTORY ● MEDIAN PRICE
154
150
86
126
122
83
117
118
112
102
96
91
82
75 79
19
16 13
17
10
11 14
11 12
12 6
7 4
$1,288,000
$1,170,000
$1,157,500 $1,107,500
$1,050,000
$980,000
$945,000
20
M ay-2022 Apr-2023 M ay-2023
▶ TOTALLISTINGS&SALESBYPRICERANGE
SEL ERS'MARKET <5
BALANCED 5-8
BUYERS'MARKET 8+
● SALES ● INVENTORY ● MONTHSOFINVENTORY
5.0
30
4.0
3.5
20
2.5
10
0
<$199K $200-299K $300-399K $400-499K $500-599K $600-699K $700-799K $800-899K $900-999K $1.0-1.249M $1.25-1.49M $1.5M +
2 5 2.5
2 7 3.5
3 12 4.0
7 35 5.0
M onthsofInv. Inventory Sales
2
3
18
30
Copyright© 2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpark,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.Curentasof June1,2023.Aldatafrom As ociationofInteriorRealtors& rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupof com paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceuponthe inform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandany propertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
●
11
Made with FlippingBook - professional solution for displaying marketing and sales documents online