Central Okanagan / Kelowna Real Estate Market Update: November 2024
Discover the latest trends in the Central Okanagan / Kelowna real estate market for November 2024. This update highlights key data for single-family homes, townhomes, and condos, offering a snapshot of market activity.
Single-Family Homes
- Sales: Sales of single-family homes in increased by 15% compared to November 2023, with 123 homes sold versus 107 last year.
- New Listings: A 5% decline in new listings brought the total to 244 in November 2024, down from 256 in November 2023.
- Average Price: Prices of single-family homes rose slightly by 1%, reaching $1,064,566 in November 2024, compared to $1,055,841 a year ago.
- Days on Market (DOM): Homes took 21% longer to sell, averaging 70 days in November 2024 compared to 58 days in November 2023.
Townhomes
- Sales: Townhome sales saw a year-over-year increase of 47%, with 50 units sold in November 2024 versus 34 in November 2023.
- New Listings: New listings rose slightly by 2%, totaling 107 in November 2024 compared to 105 in the prior year.
- Average Price: Prices decreased by 1%, with an average price of $667,860 in November 2024 compared to $673,540 in November 2023.
- Days on Market (DOM): Townhomes stayed on the market 18% longer, averaging 60 days in November 2024 versus 51 days in November 2023.
Condos
- Sales: Condo sales surged by 58% year-over-year, with 98 units sold in November 2024, up from 62 in November 2023.
- New Listings: A 12% drop in new listings resulted in 183 new condos on the market in November 2024, down from 208 in November 2023.
- Average Price: The average price increased by 15%, reaching $502,373 in November 2024 compared to $438,043 in November 2023.
- Days on Market (DOM): Condos stayed on the market 15% longer, averaging 63 days in November 2024 versus 53 days in November 2023.
For expert advice or additional details about the Central Okanagan / Kelowna real estate market, reach out to Jeff Creamer at Royal LePage Kelowna. Call 250-575-7112 or email jeff@shopkelownahomes.com today!
Check out Last Month's Central Okanagan / Kelowna Real Estate Market Statistics
Source: Association of Interior Realtors