downtown kelowna DETACHED - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 34.3 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 8% VS 2023
▲ 32% VS 2023
▼ 3% VS 2023
▼ 73% VS 2023
There were 103 detached listings in Downtown Kelowna in February, 24% above January and 32% higher than February 2023. February detached home sales increased by 200% month-over-month, to 3, and were 73% below February 2023. The months of inventory for detached in Downtown Kelowna, at 34.3, reflected a buyers' market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$935,000 $920,000 34.3 3 103
11 78
384% -73% 32%
$727,800 $727,800 83.0 1 83
28% 26% -59% 200% 24%
The detached median price in February was $920,000, a 26% increase from January and 8% above February 2023.
$963,318 $850,000 709%
The average sold price was $935,000, 28% above last month and down 3% to February 2023.
-3% 8%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
111
105
118
103
116
100
114
114
109
93
89
84
83
78
76
20
17
12
10
9
7
7
6
11
17
1
15
3
31
$1.27M
$1.05M
$1.04M
$1.03M $1.02M
$920K
$901K
$865K
$850K
$825K
$799K
$728K
$650K
Feb-23
Jan-24
Feb-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
25
24.0
20
15
10
7.5
5
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
0 8 n/a
2 15 7.5
1 24 24.0
0 20 n/a
0 9 n/a
0 11 n/a
0 4 n/a
0 4 n/a
0 8 n/a
Copyright © March 7, 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 March 7, 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 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online