kelowna south DETACHED - AUGUST 2 0 2 4
MONTHS OF INVENTORY 10.8 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 72% VS 2023
▲ 22% VS 2023
▼ 23% VS 2023
▼ 13% VS 2023
There were 119 detached listings in Kelowna South in August, 6% below July and 72% higher than August 2023. August detached home sales increased by 83% month-over-month, to 11, and were 22% above August 2023. The months of inventory for detached in Kelowna South, at 10.8, re'ected a buyers' market.
THIS MONTH No. $1,019,136 $900,000 10.8 11 119
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,321,595 $1,032,354 7.7 9 69
-23% -13% 41% 22% 72%
$2,333,083 $1,401,500 21.2 6 127
-56% -36% -49% 83% -6%
The detached median price in August was $900,000, a 36% decrease from July and 13% below August 2023.
The average sold price was $1,019,136, 56% below last month and down 23% to August 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
45
127 127
119
90
105
96
36
76
35
68
65
69
57
59
46
11
9
8
7
6
4
4
11
3
9
5
3
$1.40M
$1.25M
$1.07M
$1.03M
$1.01M
$940K
$920K
$925K
$900K
$874K
$815K
$465K
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
25
8.3
20
6.7
5.0
15
4.0
10
5
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
2 0 n/a
2 8 4.0
3 25 8.3
3 20 6.7
0 13 n/a
0 14 n/a
0 20 n/a
0 9 n/a
1 5 5.0
0 5 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. 27 ●
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