kelowna north DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 9.8 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 14% VS 2023
▲ 5% VS 2023
▲ 9% VS 2023
▲ 67% VS 2023
There were 49 detached listings in Kelowna North in August, 11% below July and 9% higher than August 2023. August detached home sales increased by 150% month-over-month, to 5, and were 67% above August 2023. The months of inventory for detached in Kelowna North, at 9.8, re)ected a buyers' market.
THIS MONTH No. $1,170,000 $1,075,000 9.8 5 49
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,026,667 $1,025,000 15.0 3 45
14% 5% -35% 67% 9%
$1,002,000 $1,002,000 27.5 2 55
17% 7% -64% 150% -11%
The detached median price in August was $1,075,000, a 7% increase from July and 5% above August 2023.
The average sold price was $1,170,000, 17% above last month and up 14% to August 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
132
54
61
61
51
55
49
44
43
45
46
31
29
25
8
4
3
3
3
2
56
5
1
1
3
1
1
37
$2.72M
$2.19M
$1.13M
$1.02M $1.18M
$939K $1.00M $1.08M
$799K
$750K
$728K
$695K
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
20
19.0
15
10
9.0
4.5
5
2.0
0
N/A
<$600K
$600K-799K $800K-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 $3.0M+
MOI INVENTORY SALES
0 4 n/a
2 9 4.5
1 19 19.0
1 9 9.0
1 2 2.0
0 1 n/a
0 1 n/a
0 1 n/a
0 3 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. 24 ●
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