city of kelowna TOWNHOME - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 13.1 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2022
▲ 19% VS 2022
▲ 56% VS 2022
▼ 22% VS 2022
There were 276 townhome listings in the City of Kelowna in December, 5% below November and 56% higher than December 2022. December townhome sales decreased by 32% month-over-month, to 21, and were 22% below December 2022. The months of inventory for townhomes in the City of Kelowna, at 13.1, reflected a buyers' market. The townhome median price in December was $708,000, a 7% increase from November and 19% above December 2022. The average sold price was $720,500, 3% above last month; the average PSF sale price was $397, down 3% 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
$397 $720,500 $708,000 13.1 21 276
$389 $644,970 $594,000 656% 27 177
100% -22% 56%
$409 $699,058 $660,000 9.4 31 290
-3% 3% 7% 40% -32% -5%
2% 12% 19%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
287
57
276
290
247
277
53
257
213
216
207
177
191
176
173
81
33
55
48
41
33
68
56
50
27
21
32
33
31
$723K
$712K
$710K
$705K
$705K
$708K
$692K
$690K
$673K
$656K
$660K
$645K
$594K
Dec-22
Nov-23
Dec-23
▶ 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.
70
5
24+
4+ bdrms
60
22.7
48
50
18.0
8
40
3 bdrms
145
11.0
30
10.8
8.5
8
20
2 bdrms
5.4
79
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 7 38 5.4 3 68 22.7 5 54 10.8 2 54 27.0 2 17 8.5 1 18 18.0 1 11 11.0 0 16 n/a
4
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. 9 ●
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