city of kelowna DETACHED - JANUARY 2 0 2 4
MONTHS OF INVENTORY 10.9 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 14% VS 2023
▲ 36% VS 2023
▼ 12% VS 2023
▼ 6% VS 2023
There were 667 detached listings in the City of Kelowna in January, 6% below December and 14% higher than January 2023. January detached home sales decreased by 5% month-over-month, to 61, and were 36% above January 2023. The months of inventory for detached in the City of Kelowna, at 10.9, reflected a buyers' market.
THIS MONTH No. $1,073,142 $930,000 10.9 61 667
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,217,866 $990,000 1304% 45 587
-12% -6% -16% 36% 14%
$1,295,614 $992,800 11.0 64 706
-5% -6%
The detached median price in January was $930,000, a 6% decrease from December and 6% below January 2023.
-17% -6% -0.9%
The average sold price was $1,073,142, 17% below last month and down 12% to January 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
925
83
873
970
853
957
909
73
681
777
667
706
706
587
628
59
181
156
135
124
90
88
66
64
145
125
61
45
93
$1.06M $1.04M $1.00M $1.02M $1.04M
$996K
$993K
$990K $1.03M $1.05M $1.03M
$989K
$930K
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
120
24+
100
80
17.0
16.7
13.4
60
12.5
40
5.0
5.0
20
2.9
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
2 10 5.0
13 38 2.9
21 105 5.0
8 107 13.4
7 119 17.0
6 75 12.5
0 50 n/a
3 50 16.7
1 32 32.0
0 81 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. 8 ●
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