kelowna south TOWNHOME - AUGUST 2 0 2 4
MONTHS OF INVENTORY 8.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 26% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 51% VS 2023
▲ 250% VS 2023
▼ 41% VS 2023
▼ 44% VS 2023
There were 56 townhome listings in Kelowna South in August, 10% below July and 51% higher than August 2023. August townhome sales increased by 17% month-over-month, to 7, and were 250% above August 2023. The months of inventory for townhomes in Kelowna South, at 8.0, re'ected a buyers' market. The townhome median price in August was $678,000, a 32% decrease from July and 44% below August 2023. The average sold price was $708,714, 27% below last month; the average PSF sale price was $481, down 12% 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
$481 $708,714 $678,000 8.0 7 56
$653 $1,207,500 $1,207,500 18.5 2 37
-26% -41% -44% -57% 250% 51%
$548 $965,833 $1,000,000 10.3 6 62
-12% -27% -32% -23% 17% -10%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
59
62
61
56
50
50
41
37
37
33
40
32
31
30
29
8
28
6
5
3
7
2
4
2
2
1
2
$1.21M
$1.00M
$835K
$842K
$775K
$732K
$713K
$700K
$678K
$638K
$633K
Aug-23
Jul-24
Aug-24
▶ 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.
16
15.0
1
14
4+ bdrms
10
12
10
1
3 bdrms
8
34
6
5.0
5
4
2 bdrms
2.5
12
1.7
2
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 0 14 n/a 1 15 15.0 0 9 n/a 0 2 n/a 0 1 n/a 1 5 5.0 3 5 1.7 2 5 2.5
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. 28 ●
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