kelowna south CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 5.3 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.7% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 54% VS 2023
▲ 71% VS 2023
▼ 26% VS 2023
▼ 7% VS 2023
There were 63 condo listings in Kelowna South in July, 11% below June and 54% higher than July 2023.
July condo sales increased by 71% month-over-month, to 12, and were 71% above July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Kelowna South, at 5.3, reflected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
12 63
$482 $590,954 $475,000 5.9 7 41
0.7% -26% -7% -10% 71% 54%
$369 $323,914 $315,000 10.1 7 71
31% 34% 40% -48% 71% -11%
The condo median price in July was $441,500, a 40% increase from June and 7% below July 2023. The average sold price was $435,158, 34% above last month; the average PSF sale price was $485, up 31% to last month.
$485 $435,158 $441,500 5.3
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
40
71
69
63
55
52
51
50
56
32
49
49
41
45
41
22
12
10
10
8
12
7
6
6
5
3
7
7
7
$511K
$475K
$458K
$453K
$450K
$447K
$441K
$442K
$405K
$401K
$370K
$355K
$315K
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.
25
8.0
4+ bdrms
20
15
3 bdrms
4.2
4.0
7
10
10
2 bdrms
5
36
0
2
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 5 20 4.0 6 25 4.2 1 8 8.0 0 2 n/a 0 4 n/a 0 1 n/a 0 3 n/a
<2 bdrms
20
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. 29 ●
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