city of kelowna DETACHED - MAY 2 0 2 4
MONTHS OF INVENTORY 7.8 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.5% VS 2023
▲ 46% VS 2023
▼ 5% VS 2023
▼ 20% VS 2023
There were 975 detached listings in the City of Kelowna in May, 7% above April and 46% higher than May 2023. May detached home sales increased by 9% month-over-month, to 125, and were 20% below May 2023. The months of inventory for detached in the City of Kelowna, at 7.8, reflected a balanced market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 156 667
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
125 975
-5% 0.5% 82% -20% 46%
115 907
9% 7%
The detached median price in May was $1,055,000, a 0% change from April and 0.5% above May 2023.
$1,136,421 $1,055,000 7.8
$1,069,067 $1,055,000 7.9
6% 0% -1.1%
$1,197,915 $1,049,700 4.3
The average sold price was $1,136,421, 6% above last month and down 5% to May 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
975
907
39
37
809
808
791
791
745
712
765
667
31
636
599
567
144
112
115
156
97
79
81
67
125
58
56
54
110
$1.05M $1.06M
$1.06M $1.06M
$1.00M
$990K $1.02M $990K $996K $985K $1.00M
$950K
$908K
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
200
24+
150
16.1
15.8
15.4
100
11.5
5.4
50
3.8
3.7
2.6
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
3 11 3.7
17 44 2.6
38 143 3.8
38 204 5.4
12 185 15.4
7 113 16.1
2 86 43.0
4 63 15.8
4 46 11.5
0 80 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. 8 ●
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