south east kelowna DETACHED - MAY 2 0 2 4
MONTHS OF INVENTORY 23.7 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 58% VS 2023
▼ 22% VS 2023
▼ 4% VS 2023
▼ 77% VS 2023
There were 71 detached listings in South East Kelowna in May, 22% above April and 58% higher than May 2023.
May detached home sales increased by 50% month-over-month, to 3, and were 77% below May 2023.
THIS MONTH No. $1,201,333 $1,180,000 23.7 3 71
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
The months of inventory for detached in South East Kelowna, at 23.7, reflected a buyers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
13 45
-22% -4% 584% -77% 58%
$1,046,000 $1,046,000 29.0 2 58
15% 13% -18% 50% 22%
The detached median price in May was $1,180,000, a 13% increase from April and 4% below May 2023.
$1,534,923 $1,235,000 3.5
The average sold price was $1,201,333, 15% above last month and down 22% to May 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 71
35
31
53
51
58
49
48
52
41
45
47
34
30
28
15
13
5
4
4
3
15
2
2
5
7
3
3
$1.75M
$1.25M $1.18M $1.16M
$1.24M $1.26M $1.29M $1.18M $1.21M
$1.18M
$1.15M $1.05M
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
13.0
15
9.0
10
5
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
0 1 n/a
0 3 n/a
2 18 9.0
1 13 13.0
0 5 n/a
0 6 n/a
0 6 n/a
0 3 n/a
0 16 n/a
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. 40 ●
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