west kelowna CONDO - MARCH 2 0 2 4
MONTHS OF INVENTORY 11.4 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2023
▲ 10% VS 2023
▼ 8% VS 2023
▼ 36% VS 2023
There were 80 condo listings in West Kelowna in March, 4% above February and 10% higher than March 2023.
March condo sales decreased by 13% month-over-month, to 7, and were 36% below March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in West Kelowna, at 11.4, reflected a buyers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$461 $484,429 $438,800 11.4 7 80
11 73
5% 12% -8% 72% -36% 10%
$385 $384,563 $399,750 9.6 8 77
20% 26% 10% 19% -13% 4%
The condo median price in March was $438,800, a 10% increase from February and 8% below March 2023. The average sold price was $484,429, 26% above last month; the average PSF sale price was $461, up 20% to last month.
$439 $431,636 $477,500 664%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
77
77
100
80
81
69
79
73
62
68
66
64
61
59
77
23
19
51
11
19
9
18
8
7
7
7
5
7
11
$490K
$478K
$465K
$460K
$460K
$458K
$448K
$438K
$439K
$430K
$410K
$400K
$350K
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.
40
14.7
4+ bdrms
30
1
3 bdrms
8.3
7
20
6
2 bdrms
10
53
2.0
0
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 3 25 8.3 3 44 14.7 0 9 n/a 1 2 2.0
<2 bdrms
20
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. 16 ●
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