Central Okanagan / Kelowna Real Estate Market Update: October 2024
Stay informed with the latest Central Okanagan / Kelowna real estate trends for October 2024. This comprehensive market report provides key insights into single-family homes, townhomes, and condos in the Central Okanagan / Kelowna real estate market.
Single-Family Homes:
- Sales: The sales of single-family homes in Kelowna increased by 60% in October 2024 compared to October 2023, with 179 homes sold versus 112 in the previous year.
- New Listings: New single-family home listings dropped by 6%, with 328 new listings in October 2024, down from 349 in October 2023.
- Average Price: The average price of a single-family home increased by 6%, reaching $1,086,399 in October 2024, compared to $1,021,128 in October 2023.
- Days on Market (DOM): Homes spent 27% more time on the market, averaging 61 days in October 2024 compared to 48 days in October 2023.
Townhomes:
- Sales: Sales of Kelowna townhomes increased by 32% year-over-year, with 58 townhomes sold in October 2024 compared to 44 in October 2023.
- New Listings: New townhome listings increased by 24%, with 124 new listings in October 2024, up from 100 in October 2023.
- Average Price: The average price for a townhome fell by 3% to $715,513 in October 2024, down from $735,715 in October 2023.
- Days on Market (DOM): The DOM for townhomes rose by 31%, with properties selling in an average of 63 days in October 2024, compared to 48 days in October 2023.
Condos:
- Sales: Condo sales in Kelowna saw a 22% year-over-year increase, with 93 units sold in October 2024, up from 76 in October 2023.
- New Listings: New condo listings increased by 29%, with 255 listings in October 2024, compared to 197 in October 2023.
- Average Price: The average condo price dropped by 6% to $489,042 in October 2024, down from $522,410 in October 2023.
- Days on Market (DOM): The DOM for condos increased by 27%, with properties staying on the market for an average of 66 days in October 2024, compared to 52 days in October 2023.
For personalized real estate advice or more information on the Central Okanagan / Kelowna real estate market, contact 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