city of west kelowna DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 8.3 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 10% VS 2023
▲ 34% VS 2023
▲ 42% VS 2023
▼ 4% VS 2023
There were 390 detached listings in the City of West Kelowna in August, 6% below July and 34% higher than August 2023. August detached home sales decreased by 22% month-over-month, to 47, and were 42% above August 2023. The months of inventory for detached in the City of West Kelowna, at 8.3, re(ected a buyers' market.
THIS MONTH No. $1,052,039 $850,000 8.3 47 390
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$955,203 $885,000 8.8 33 292
10% -4% -6% 42% 34%
$1,082,935 $910,405 6.9 60 415
-3% -7% 20% -22% -6%
The detached median price in August was $850,000, a 7% decrease from July and 4% below August 2023.
The average sold price was $1,052,039, 3% below last month and up 10% to August 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
428
53
390
415
344
384
313
293
269
292
41
288
38
230
205
205
61
60
45
36
31
31
27
25
21
47
18
33
52
$950K
$932K
$910K
$893K
$885K
$870K
$875K
$859K
$850K
$850K
$820K
$815K
$800K
Aug-23
Jul-24
Aug-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
160
21.9
140
120
100
12.5
11.5
80
60
40
5.0
4.3
20
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
32 136 4.3
7 153 21.9
4 50 12.5
2 23 11.5
2 10 5.0
0 4 n/a
0 6 n/a
0 3 n/a
0 1 n/a
0 4 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 September 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. 11 ●
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