downtown kelowna DETACHED - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 12.7 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 34% VS 2022
▲ 42% VS 2022
▼ 4% VS 2022
▼ 14% VS 2022
There were 76 detached listings in Downtown Kelowna in December, 24% below November and 4% lower than December 2022. December detached home sales decreased by 14% month-over-month, to 6, and were 14% below December 2022. The months of inventory for detached in Downtown Kelowna, at 12.7, reflected a buyers' market. The detached median price in December was $1,267,500, a 95% increase from November and 42% above December 2022. The average sold price was $1,425,104, 98% above last month and up 34% to December 2022.
THIS MONTH No. $1,425,104 $1,267,500 12.7 6 76
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,062,500 $890,000 1129% 7 79
34% 42% 12% -14% -4%
$721,471 $650,000 14.3 7 100
98% 95% -11% -14% -24%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
111
90
118
116
100
114
114
109
93
82
89
79
78
76
76
51
20
17
12
11
10
9
7
7
5
17
15
7
6
$1.27M
$1.09M
$1.05M
$1.04M
$1.03M $1.02M
$890K
$901K
$865K
$850K
$825K
$799K
$650K
Dec-22
Nov-23
Dec-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
20
17.0
15
10.0
10
6.3
5
3.0
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
0 4 n/a
1 10 10.0
1 17 17.0
3 19 6.3
0 8 n/a
0 8 n/a
0 1 n/a
1 3 3.0
0 6 n/a
Copyright © January 22, 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 January 22, 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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