city of kelowna DETACHED - JULY 2 0 2 4
MONTHS OF INVENTORY 11.0 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 35% VS 2023
▼ 1.2% VS 2023
▼ 2% VS 2023
▼ 12% VS 2023
There were 1,069 detached listings in the City of Kelowna in July, 0.6% below June and 35% higher than July 2023. July detached home sales decreased by 11% month-over-month, to 97, and were 12% below July 2023. The months of inventory for detached in the City of Kelowna, at 11.0, reflected a buyers' market.
THIS MONTH No. $1,173,709 $970,000 11.0 97 1,069
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 110 791
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
-1.2% -2% 53% -12% 35%
$1,158,627 $1,005,000 9.9 109 1,075
1.3% -3% 12% -11% -0.6%
The detached median price in July was $970,000, a 3% decrease from June and 2% below July 2023.
$1,188,105 $990,000 7.2
The average sold price was $1,173,709, 1.3% above last month and down 1.2% to July 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,069
39
1,075
906
976
809
808
791
791
712
32
765
31
636
599
567
125
112
115
97
81
79
67
58
56
54
110
97
109
$1.06M $1.05M $1.00M
$1.00M
$990K $1.02M $990K $996K $985K $1.00M
$970K
$950K
$908K
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
200
24+
24+
24+
24+
150
17.4
12.9
100
50
4.2
4.0
1.8
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
5 9 1.8
15 60 4.0
38 160 4.2
16 206 12.9
8 193 24.1
4 127 31.8
4 101 25.3
2 71 35.5
0 54 n/a
5 87 17.4
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. 8 ●
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