downtown kelowna DETACHED - MARCH 2 0 2 4
MONTHS OF INVENTORY 13.3 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 43% VS 2023
▼ 33% VS 2023
▼ 13% VS 2023
▼ 41% VS 2023
There were 133 detached listings in Downtown Kelowna in March, 28% above February and 43% higher than March 2023. March detached home sales increased by 233% month-over-month, to 10, and were 41% below March 2023. The months of inventory for detached in Downtown Kelowna, at 13.3, reflected a buyers' market. The detached median price in March was $917,500, a 0.3% decrease from February and 13% below March 2023. The average sold price was $873,800, 7% below last month and down 33% to March 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$873,800 $917,500 13.3 10 133
17 93
-33% -13% 143% -41% 43%
$935,000 $920,000 34.7 3 104
-7% -0.3% -62% 233% 28%
$1,311,524 $1,050,000 547%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
133
75
118
116
111
100
114
114
109
104
93
89
83
76
20
12
17
7
6
3
10
1
17
15
31
10
9
7
29
$1.27M
$1.05M
$1.04M
$1.03M $1.02M
$920K
$918K
$901K
$865K
$825K
$799K
$728K
$650K
Mar-23
Feb-24
Mar-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
24+
40
30
20
10
3.0
2.3
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
3 9 3.0
6 14 2.3
1 45 45.0
0 23 n/a
0 12 n/a
0 14 n/a
0 5 n/a
0 4 n/a
0 7 n/a
Copyright © April 8, 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 April 8, 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. 11 ●
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