kelowna north CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 7.2 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 15% VS 2023
▲ 50% VS 2023
▼ 12% VS 2023
▼ 10% VS 2023
There were 195 condo listings in Kelowna North in July, 6% below June and 15% higher than July 2023.
July condo sales increased by 93% month-over-month, to 27, and were 50% above July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Kelowna North, at 7.2, reflected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$718 $545,511 $518,000 7.2 27 195
$697 $616,989 $577,950 9.4 18 169
3% -12% -10% -23% 50% 15%
$572 $573,707 $508,000 14.9 14 208
25% -5% 2% -51% 93% -6%
The condo median price in July was $518,000, a 2.0% increase from June and 10% below July 2023. The average sold price was $545,511, 5% below last month; the average PSF sale price was $718, up 25% to last month.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
202
208
88
195
173
171
168
191
185
169
163
160
144
127
32
22
41
16
15
15
14
27
12
11
8
18
5
23
35
$618K
$600K
$578K
$580K
$557K
$551K
$517K
$515K
$518K
$508K
$485K
$440K
$433K
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.
60
22.0
4+ bdrms
2
50
40
1
3 bdrms
11.0
31
30
10.4
20
11
4.6
2 bdrms
4.1
113
10
0
15
<$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 5 23 4.6 15 61 4.1 5 52 10.4 1 22 22.0 1 11 11.0 0 8 n/a 0 10 n/a
<2 bdrms
49
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. 26 ●
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