downtown kelowna DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 83.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2023
▼ 48% VS 2023
▼ 33% VS 2023
▼ 80% VS 2023
There were 83 detached listings in Downtown Kelowna in January, 9% above December and 9% higher than January 2023. January detached home sales decreased by 83% month-over-month, to 1, and were 80% below January 2023. The months of inventory for detached in Downtown Kelowna, at 83.0, reflected a buyers' market. The detached median price in January was $727,800, a 43% decrease from December and 33% below January 2023. The average sold price was $727,800, 49% below last month and down 48% to January 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$727,800 $727,800 83.0 1 83
$1,392,000 $1,085,000 1520% 5 76
-48% -33% 446% -80% 9%
$1,425,104 $1,267,500 12.7 6 76
-49% -43% 555% -83% 9%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
111
105
118
116
100
114
114
109
93
83
89
76
82
78
76
76
20
17
12
11
10
9
7
7
6
17
15
5
1
$1.27M
$1.09M
$1.05M
$1.04M
$1.03M $1.02M
$901K
$865K
$850K
$825K
$799K
$728K
$650K
Jan-23
Dec-23
Jan-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
20
3.0
15
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
1 3 3.0
0 14 n/a
0 17 n/a
0 20 n/a
0 8 n/a
0 8 n/a
0 3 n/a
0 3 n/a
0 7 n/a
Copyright © February 7, 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 February 7, 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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