kelowna south DETACHED - JULY 2 0 2 4
MONTHS OF INVENTORY 21.2 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 112% VS 2023
▲ 49% VS 2023
▲ 84% VS 2023
0.0% VS 2023
There were 127 detached listings in Kelowna South in July, no change to June and 84% higher than July 2023. July detached home sales increased by 50% month-over-month, to 6, and were the same in July 2023. The months of inventory for detached in Kelowna South, at 21.2, reflected a buyers' market.
THIS MONTH No. $2,333,083 $1,401,500 21.2 6 127
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,100,500 $939,500 11.5 6 69
112% 49% 84% 0% 84%
$1,008,966 $1,008,933 31.8 4 127
131% 39% -33% 50% 0%
The detached median price in July was $1,401,500, a 39% increase from June and 49% above July 2023.
The average sold price was $2,333,083, 131% above last month and up 112% to July 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
127
53
127
90
105
45
96
76
69
68
65
69
57
59
46
11
9
9
8
7
4
4
23
3
6
5
3
6
$1.40M
$1.25M
$1.07M
$1.01M
$940K $1.03M
$940K
$920K
$925K
$874K
$815K
$465K
Jul-23
Jun-24
Jul-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
25
24+
20
17.0
15
14.0
10
6.0
5
2.5
0
N/A
<$600K
$600K-799K $800K-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 $3.0M+
MOI INVENTORY SALES
0 1 n/a
1 6 6.0
1 26 26.0
0 24 n/a
1 14 14.0
1 17 17.0
0 19 n/a
0 8 n/a
0 7 n/a
2 5 2.5
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. 27 ●
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