city of kelowna DETACHED - NOVEMBER 2 0 2 4
MONTHS OF INVENTORY 9.9 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 15% VS 2023
▲ 2% VS 2023
▼ 7% VS 2023
▼ 6% VS 2023
There were 822 detached listings in the City of Kelowna in November, 12% below October and 15% higher than November 2023. November detached home sales decreased by 25% month-over-month, to 83, and were 2% above November 2023. The months of inventory for detached in the City of Kelowna, at 9.9, reflected a buyers' market. The detached median price in November was $930,000, a 8% decrease from October and 6% below November 2023. The average sold price was $1,058,113, 12% below last month and down 7% to November 2023.
THIS MONTH No. $1,058,113 $930,000 9.9 83 822
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,140,772 $985,000 8.8 81 712
-7% -6% 13% 2% 15%
110 935
-12% -8% 17% -25% -12%
$1,200,084 $1,010,000 8.5
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,082
55
1,077
1,069
1,052
906
978
935
791
48
822
712
42
636
599
567
124
115
110
100
97
94
74
67
56
54
83
81
109
$1.06M
$1.05M $1.00M
$1.00M
$985K $1.00M
$964K $997K $1.02M $1.01M
$950K
$930K
$908K
Nov-23
Oct-24
Nov-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
300
24+
24+
250
200
16.0
150
10.4
100
4.1
50
0
<$1.0M
$1.0M-$1.4M $1.5M-$1.99M $2.0M-2.24M $2.5M-2.99M $3.0M-3.49M $3.5M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
MOI INVENTORY SALES
48 199 4.1
27 280 10.4
4 184 46.0
2 61 30.5
2 32 16.0
0 8 n/a
0 13 n/a
0 18 n/a
0 8 n/a
0 19 n/a
Copyright © 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 December 9, 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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