west kelowna DETACHED - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 9.6 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 24% VS 2023
▼ 17% VS 2023
▼ 9% VS 2023
▼ 29% VS 2023
There were 231 detached listings in West Kelowna in February, 12% above January and 24% higher than February 2023. February detached home sales increased by 33% month-over-month, to 24, and were 29% below February 2023. The months of inventory for detached in West Kelowna, at 9.6, re&ected 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
$945,808 $860,000 9.6 24 231
$1,141,804 $945,000 547% 34 186
-17% -9% 76% -29% 24%
$871,656 $815,000 11.4 18 206
9% 6% -16% 33% 12%
The detached median price in February was $860,000, a 6% increase from January and 9% below February 2023.
The average sold price was $945,808, 9% above last month and down 17% to February 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
298
314
295
71
270
292
289
266
222
61
231
243
206
206
186
64
63
62
56
35
31
27
21
18
34
43
24
33
31
$970K
$945K
$945K
$950K
$900K
$891K
$885K
$860K
$855K
$850K
$820K
$815K
$800K
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
50
13.0
40
11.0
30
8.2
20
4.7
3.7
10
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 6 n/a
7 26 3.7
10 47 4.7
5 41 8.2
0 48 n/a
1 13 13.0
1 11 11.0
0 18 n/a
0 7 n/a
0 14 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. 14 ●
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