city of kelowna TOWNHOME - JANUARY 2 0 2 4
MONTHS OF INVENTORY 8.9 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 39% VS 2023
▼ 2% VS 2023
▼ 9% VS 2023
▼ 18% VS 2023
There were 241 townhome listings in the City of Kelowna in January, 8% below December and 39% higher than January 2023. January townhome sales increased by 35% month-over-month, to 27, and were 18% below January 2023. The months of inventory for townhomes in the City of Kelowna, at 8.9, reflected a buyers' market. The townhome median price in January was $650,000, a 3% decrease from December and 9% below January 2023. The average sold price was $714,863, 0.2% below last month; the average PSF sale price was $455, up 13% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$455 $714,863 $650,000 8.9 27 241
$456 $730,509 $712,000 524% 33 173
-0.3% -2% -9% 70% -18% 39%
$404 $716,525 $671,500 13.1 20 261
13% -0.2% -3% -32% 35% -8%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
282
58
261
245
279
268
54
241
255
213
216
207
191
173
176
37
81
55
48
41
68
31
56
20
33
50
27
33
32
$723K
$712K
$710K
$705K
$705K
$692K
$690K
$673K
$672K
$656K
$660K
$650K
$645K
Jan-23
Dec-23
Jan-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
60
4
14.0
14.0
4+ bdrms
50
39
11.4
40
10.4
15
3 bdrms
132
30
4.7
20
4.1
8
2 bdrms
68
10
0
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 5 57 11.4 5 52 10.4 3 42 14.0 1 14 14.0 3 14 4.7 0 7 n/a 0 14 n/a 10 41 4.1
2
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. 9 ●
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