city of kelowna CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 6.7 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.2% VS 2023
▲ 52% VS 2023
▼ 6% VS 2023
▼ 5% VS 2023
There were 581 condo listings in the City of Kelowna in July, 3% below June and 52% higher than July 2023.
July condo sales increased by 18% month-over-month, to 87, and were 5% below July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in the City of Kelowna, at 6.7, reflected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$538 $478,815 $455,000 6.7 87 581
$527 $507,166 $454,000 4.2 92 383
2% -6% 0.2% 60% -5% 52%
$459 $464,182 $446,250 8.1 74 601
17% 3% 2% -18% 18% -3%
The condo median price in July was $455,000, a 2.0% increase from June and 0.2% above July 2023. The average sold price was $478,815, 3% above last month; the average PSF sale price was $538, up 17% to last month.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
51
581
601
512
563
526
416
385
40
383
417
379
368
358
356
30
103
91
79
92
55
50
87
40
37
31
74
56
65
$537K
$488K
$475K
$465K
$458K
$455K
$454K
$450K
$442K
$446K
$440K
$434K
$395K
Jul-23
Jun-24
Jul-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.
17.5
250
17.0
4+ bdrms
3
200
12.0
6
150
3 bdrms
72
100
5.4
4.5
55
2 bdrms
50
355
0
26
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 0 8 n/a 29 130 4.5 48 258 5.4 6 105 17.5 3 36 12.0 1 17 17.0 0 11 n/a 0 16 n/a
<2 bdrms
151
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 August 6, 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. 10 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online