city of kelowna CONDO - JUNE 2 0 2 4
MONTHS OF INVENTORY 8.1 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 15% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 67% VS 2023
▼ 3% VS 2023
▼ 3% VS 2023
▼ 33% VS 2023
There were 600 condo listings in the City of Kelowna in June, 7% above May and 67% higher than June 2023.
June condo sales decreased by 28% month-over-month, to 74, and were 33% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 110 359
% Change
No. 103 562
% Change
The months of inventory for condos in the City of Kelowna, at 8.1, reflected a buyers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$459 $464,182 $446,250 8.1 74 600
-15% -3% -3% 148% -33% 67%
-10% -6% -3% 49% -28% 7%
The condo median price in June was $446,250, a 3% decrease from May and 3% below June 2023. The average sold price was $464,182, 6% below last month; the average PSF sale price was $459, down 10% to last month.
$539 $478,792 $461,500 3.3
$512 $494,488 $457,850 5.5
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 600
51
511
562
525
416
383
385
417
359
38
379
368
358
356
28
103
91
79
110
55
50
40
37
74
31
92
56
65
$537K
$488K
$475K
$462K
$465K
$458K
$454K
$450K
$442K
$446K
$440K
$434K
$395K
Jun-23
May-24
Jun-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.
250
24+
4+ bdrms
3
200
15.4
4
150
3 bdrms
13.0
84
100
6.7
59
6.0
2 bdrms
50
3.5
372
0
11
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 20 133 6.7 43 256 6.0 7 108 15.4 1 42 42.0 1 13 13.0 0 10 n/a 0 31 n/a 2 7 3.5
<2 bdrms
141
Copyright © July 8, 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 July 8, 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. 10 ●
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