downtown kelowna TOWNHOME - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 16.8 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 168% VS 2023
▼ 23% VS 2023
▼ 28% VS 2023
▼ 33% VS 2023
There were 67 townhome listings in Downtown Kelowna in February, 22% above January and 168% higher than February 2023. February townhome sales increased by 33% month-over-month, to 4, and were 33% below February 2023. The months of inventory for townhomes in Downtown Kelowna, at 16.8, reflected a buyers' market. The townhome median price in February was $713,000, a 25% decrease from January and 28% below February 2023. The average sold price was $702,875, 31% below last month; the average PSF sale price was $483, down 4% 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
$483 $702,875 $713,000 16.8 4 67
$502 $915,667 $984,500 417% 6 25
-4% -23% -28% 302% -33% 168%
$503 $1,012,833 $950,000 18.3 3 55
-4% -31% -25% -9% 33% 22%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
77
42
71
69
67
64
64
67
49
55
52
47
27
30
25
15
20
7
6
6
4
4
3
3
3
2
6
9
4
$985K
$950K
$925K
$900K
$890K
$855K
$825K
$812K
$800K
$742K
$715K
$713K
$700K
Feb-23
Jan-24
Feb-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.
16.0
4+ bdrms
15
12
3
10
3 bdrms
36
6.0
1
5
2 bdrms
19
2.0
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 1 16 16.0 1 6 6.0 0 5 n/a 0 6 n/a 0 8 n/a 2 4 2.0 0 5 n/a 0 17 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. 12 ●
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