city of kelowna DETACHED - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 11.2 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2022
▲ 12% VS 2022
▲ 20% VS 2022
▼ 6% VS 2022
There were 706 detached listings in the City of Kelowna in December, 17% below November and 20% higher than December 2022. December detached home sales decreased by 28% month-over-month, to 63, and were 6% below December 2022. The months of inventory for detached in the City of Kelowna, at 11.2, reflected a buyers' market. The detached median price in December was $987,600, a 0.1% decrease from November and 12% above December 2022. The average sold price was $1,293,163, 12% above last month and up 12% to December 2022.
THIS MONTH No. $1,293,163 $987,600 11.2 63 706
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,155,921 $885,000 875% 67 586
12% 12% 28% -6% 20%
$1,152,813 $989,000 9.7 88 853
12% -0.1% 16% -28% -17%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
925
59
873
970
853
957
909
681
777
49
706
706
46
586
628
587
181
156
135
124
90
88
66
45
145
67
125
63
93
$1.06M $1.04M $1.00M $1.02M $1.04M
$996K
$990K $1.03M $1.05M $1.03M
$989K
$988K
$885K
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
120
24+
24+
24+
100
80
14.8
14.0
60
9.2
40
5.3
4.6
20
4.0
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
3 12 4.0
10 46 4.6
20 105 5.3
13 120 9.2
8 118 14.8
2 83 41.5
4 56 14.0
0 52 n/a
1 40 40.0
2 74 37.0
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. 8 ●
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