city of kelowna TOWNHOME - MARCH 2 0 2 4
MONTHS OF INVENTORY 5.4 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2023
▲ 2% VS 2023
▲ 50% VS 2023
▼ 4% VS 2023
There were 286 townhome listings in the City of Kelowna in March, 12% above February and 50% higher than March 2023. March townhome sales increased by 33% month-over-month, to 53, and were 4% below March 2023. The months of inventory for townhomes in the City of Kelowna, at 5.4, reflected a balanced market. The townhome median price in March was $658,900, a 4% increase from February and 2% above March 2023. The average sold price was $709,861, 10% above last month; the average PSF sale price was $419, up 1.4% 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
$419 $709,861 $658,900 5.4 53 286
$428 $676,195 $645,000 347% 55 191
-2% 5% 2% 55% -4% 50%
$413 $643,660 $632,500 6.4 40 255
1.4% 10% 4% -15% 33% 12%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
272
286
35
264
244
255
253
254
213
242
222
216
28
191
207
27
81
48
41
55
53
68
56
20
50
40
33
31
27
$710K
$705K
$705K
$690K
$692K
$673K
$672K
$656K
$660K
$659K
$645K
$650K
$633K
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.
60
12
12.0
4+ bdrms
50
46
40
30
7.7
3 bdrms
6.6
166
30
5.2
3.9
20
11
3.2
2 bdrms
71
10
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 2 24 12.0 0 14 n/a 0 14 n/a 11 43 3.9 18 58 3.2 11 57 5.2 8 53 6.6 3 23 7.7
3
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. 9 ●
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