west kelowna estates DETACHED - JULY 2 0 2 4
MONTHS OF INVENTORY 16.8 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 81% VS 2023
▼ 14% VS 2023
▼ 75% VS 2023
There were 67 detached listings in West Kelowna Estates in July, 12% above June and 81% higher than July 2023.
July detached home sales decreased by 50% month-over-month, to 4, and were 75% below July 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
The months of inventory for detached in West Kelowna Estates, at 16.8, reflected a buyers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$991,125 $988,500 16.8 4 67
16 37
-14% 4% 624% -75% 81%
$902,362 $905,000 7.5 8 60
10% 9% 123% -50% 12%
The detached median price in July was $988,500, a 9% increase from June and 4% above July 2023.
$1,156,938 $953,500 2.3
The average sold price was $991,125, 10% above last month and down 14% to July 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 67
52
60
51
44
38
35
42
37
38
38
28
28
27
16
28
27
11
8
7
5
4
4
3
3
3
3
4
8
$1.22M
$1.10M
$989K
$954K
$945K
$953K
$910K
$904K
$905K
$895K
$850K
$835K
$805K
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
17.0
20
15
10.5
10
5
1.0
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
1 1 1.0
1 17 17.0
2 21 10.5
0 14 n/a
0 3 n/a
0 3 n/a
0 7 n/a
0 1 n/a
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. 46 ●
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