city of kelowna DETACHED - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 14.6 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 34% VS 2023
▼ 4% VS 2023
▼ 6% VS 2023
There were 1,081 detached listings in the City of Kelowna in September, 3% above August and 34% higher than September 2023. September detached home sales decreased by 22% month-over-month, to 74, and were 6% below September 2023. The months of inventory for detached in the City of Kelowna, at 14.6, re(ected a buyers' market.
THIS MONTH No. $1,102,593 $1,025,000 14.6 74 1,081
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,145,214 $990,000 10.2 79 809
-4% 4% 43% -6% 34%
$1,107,943 $995,000 11.1 95 1,051
-0.5% 3% 32% -22% 3%
The detached median price in September was $1,025,000, a 3% increase from August and 4% above September 2023.
The average sold price was $1,102,593, 0.5% below last month and down 4% to September 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,081
53
1,076
1,068
1,051
906
977
808
791
809
712
636
599
567
35
34
124
115
100
97
95
81
67
58
56
54
79
74
109
$1.06M
$1.05M $1.00M
$1.00M
$990K $996K $985K $1.00M
$964K $995K $1.02M
$950K
$908K
Sep-23
Aug-24
Sep-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
200
24+
24+
24+
23.0
150
16.1
100
10.7
8.2
6.9
50
5.0
0
N/A
<$600K
$600K-799K $800K-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 $3.0M+
MOI INVENTORY SALES
0 1 n/a
3 15 5.0
9 62 6.9
24 196 8.2
17 182 10.7
12 193 16.1
5 115 23.0
2 104 52.0
1 80 80.0
0 50 n/a
1 83 83.0
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. 8 ●
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