west kelowna DETACHED - MARCH 2 0 2 4
MONTHS OF INVENTORY 8.2 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 11% VS 2023
▲ 4% VS 2023
▲ 32% VS 2023
▼ 16% VS 2023
There were 294 detached listings in West Kelowna in March, 27% above February and 32% higher than March 2023. March detached home sales increased by 44% month-over-month, to 36, and were 16% below March 2023. The months of inventory for detached in West Kelowna, at 8.2, reflected a buyers' market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$969,903 $892,500 8.2 36 294
$874,426 $855,000 516% 43 222
11% 4% 58% -16% 32%
$943,976 $870,000 9.2 25 231
3% 3% -12% 44% 27%
The detached median price in March was $892,500, a 3% increase from February and 4% above March 2023.
The average sold price was $969,903, 3% above last month and up 11% to March 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
298
314
295
294
67
270
292
289
266
243
222
231
206
206
38
64
63
62
56
32
31
27
43
25
21
18
36
33
31
$970K
$945K
$950K
$900K
$891K
$885K
$893K
$870K
$855K
$850K
$820K
$815K
$800K
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
60
15.3
50
13.0
40
30
8.0
6.0
20
3.9
3.6
10
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
1 8 8.0
10 36 3.6
15 58 3.9
4 61 15.3
4 52 13.0
0 19 n/a
2 12 6.0
0 20 n/a
0 11 n/a
0 17 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. 14 ●
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