downtown kelowna TOWNHOME - MARCH 2 0 2 4
MONTHS OF INVENTORY 10.3 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 11% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 11% VS 2023
▲ 12% VS 2023
▲ 140% VS 2023
▲ 17% VS 2023
There were 72 townhome listings in Downtown Kelowna in March, 13% above February and 140% higher than March 2023. March townhome sales increased by 75% month-over-month, to 7, and were 17% above March 2023. The months of inventory for townhomes in Downtown Kelowna, at 10.3, reflected a buyers' market. The townhome median price in March was $835,000, a 17% increase from February and 12% above March 2023. The average sold price was $814,357, 16% above last month; the average PSF sale price was $444, down 8% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$444 $814,357 $835,000 10.3 7 72
$498 $730,650 $742,450 500% 6 30
-11% 11% 12% 106% 17% 140%
$483 $702,875 $713,000 16.0 4 64
-8% 16% 17% -36% 75% 13%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
77
54
71
68
72
64
64
61
66
49
52
52
47
30
15
27
7
6
4
4
4
3
3
3
2
7
6
9
19
$950K
$925K
$900K
$890K
$855K
$835K
$825K
$812K
$800K
$742K
$715K
$713K
$700K
Mar-23
Feb-24
Mar-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.
1
8.0
4+ bdrms
7.5
12
15
6.0
6.0
5
3 bdrms
10
39
1
5
2 bdrms
20
0
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES
1
0 6 n/a
1 6 6.0
2 15 7.5
3 18 6.0
1 8 8.0
0 6 n/a
0 6 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. 12 ●
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