city of west kelowna DETACHED - MAY 2 0 2 4
MONTHS OF INVENTORY 7.4 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 45% VS 2023
▼ 15% VS 2023
▼ 4% VS 2023
▼ 17% VS 2023
There were 385 detached listings in the City of West Kelowna in May, 12% above April and 45% higher than May 2023. May detached home sales increased by 16% month-over-month, to 52, and were 17% below May 2023. The months of inventory for detached in the City of West Kelowna, at 7.4, reflected a balanced market.
THIS MONTH No. $1,024,881 $932,450 7.4 52 385
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,207,550 $970,000 4.2 63 266
-15% -4% 75% -17% 45%
$970,060 $858,500 7.7 45 345
6% 9% -3% 16% 12%
The detached median price in May was $932,450, a 9% increase from April and 4% below May 2023.
The average sold price was $1,024,881, 6% above last month and down 15% to May 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 385
37
345
314
298
295
294
33
270
292
266
289
29
231
206
206
64
62
45
63
36
33
31
31
27
52
25
21
18
$970K
$945K
$950K
$932K
$900K
$885K
$893K
$870K
$850K
$859K
$820K
$815K
$800K
May-23
Apr-24
May-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
24+
24+
80
21.7
19.0
60
40
9.0
6.6
5.4
20
4.0
1.8
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
4 7 1.8
12 48 4.0
16 86 5.4
12 79 6.6
3 65 21.7
1 26 26.0
2 18 9.0
1 26 26.0
0 11 n/a
1 19 19.0
Copyright © June 10, 2024 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 June 10, 2024. 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. 11 ●
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