city of kelowna CONDO - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 9.1 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 5% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 34% VS 2023
▲ 1.8% VS 2023
▼ 12% VS 2023
▼ 11% VS 2023
There were 516 condo listings in the City of Kelowna in September, 9% below August and 34% higher than September 2023. September condo sales decreased by 17% month-over-month, to 57, and were 1.8% above September 2023. The months of inventory for condos in the City of Kelowna, at 9.1, re(ected a buyers' market. The condo median price in September was $416,000, a 3% decrease from August and 11% below September 2023. The average sold price was $462,678, 0.7% above last month; the average PSF sale price was $484, up 3% 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
$484 $462,678 $416,000 9.1 57 516
$510 $524,574 $465,000 6.9 56 385
-5% -12% -11% 32% 1.8% 34%
$471 $459,523 $430,000 8.3 69 570
3% 0.7% -3% 10% -17% -9%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
570
564
53
601
512
581
516
526
46
416
43
385
417
379
358
356
103
91
88
55
50
40
37
31
56
57
75
69
65
$537K
$488K
$475K
$465K
$458K
$455K
$450K
$442K
$440K
$434K
$430K
$416K
$395K
Sep-23
Aug-24
Sep-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.
250
15.0
4+ bdrms
13.2
200
2
11.0
10.2
150
2
3 bdrms
62
100
5.0
41
2 bdrms
50
324
0
14
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 0 6 n/a 25 125 5.0 23 234 10.2 5 66 13.2 3 33 11.0 1 15 15.0 0 8 n/a 0 29 n/a
<2 bdrms
128
Copyright © 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 October 9, 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. 10 ●
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