city of kelowna TOWNHOME - AUGUST 2 0 2 4
MONTHS OF INVENTORY 7.4 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 4% VS 2023
▲ 38% VS 2023
▼ 5% VS 2023
There were 282 townhome listings in the City of Kelowna in August, 3% below July and 38% higher than August 2023. August townhome sales decreased by 10% month-over-month, to 38, and were 5% below August 2023. The months of inventory for townhomes in the City of Kelowna, at 7.4, re'ected a balanced market. The townhome median price in August was $688,950, a 3% decrease from July and 4% above August 2023. The average sold price was $700,837, 6% below last month; the average PSF sale price was $433, down 0.0% 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
$433 $700,837 $688,950 7.4 38 282
$448 $675,878 $665,000 5.1 40 205
-3% 4% 4% 45% -5% 38%
$433 $745,569 $708,500 6.9 42 290
0% -6% -3% 7% -10% -3%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
39
264
282
292 290
247
265
224
220
210
33
205
32
217
208
195
60
59
42
34
32
40
23
20
38
18
45
42
28
$722K
$709K
$708K
$700K
$709K
$689K
$675K
$665K
$671K
$672K
$664K
$673K
$652K
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.
60
24+
24+
4
4+ bdrms
50
45
40
20
3 bdrms
30
153
9.0
20
14
2 bdrms
5.1
4.7
79
3.5
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 2 50 25.0 4 36 9.0 1 31 31.0 0 15 n/a 0 12 n/a 10 35 3.5 10 47 4.7 11 56 5.1
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. 9 ●
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