Central Okanagan / Kelowna Real Estate Market Report: July 2024
Stay updated with the latest real estate trends in Central Okanagan / Kelowna for July 2024. Here's an in-depth analysis of the market dynamics for single-family homes, townhomes, and condos:
Single-Family Homes:
- Sales: Sales of single family homes decreased slightly by 2% in July 2024 compared to July 2023, with 185 homes sold in July 2024, down from 188 in July 2023.
- New Listings: New listings rose by 7%, totaling 490 in July 2024, up from 458 in July 2023.
- Average Price: The average price dropped by 5% to $1,032,064 in July 2024, compared to $1,089,120 in July 2023.
- Days on Market (DOM): The average DOM increased by 24% to 51 days in July 2024, up from 41 days in July 2023.
Townhomes
- Sales: Townhome sales increased by 4% in July 2024 compared to July 2023, with 63 townhomes sold in July 2024 versus 61 in July 2023.
- New Listings: New townhome listings dropped by 5% year-over-year, reaching 148 in July 2024 compared to 155 in July 2023.
- Average Price: The average price of townhomes increased by 2% to $729,059 in July 2024, up from $711,728 in July 2023.
- Days on Market (DOM): The average DOM for townhomes increased by 18% to 46 days in July 2024, up from 39 days in July 2023.
Condos
- Sales: Condo sales experienced a 6% decrease, with 117 condos sold in July 2024, down from 124 in July 2023.
- New Listings: New condo listings decreased by 3%, totaling 233 in July 2024, down from 241 in July 2023.
- Average Price: The average condo price decreased by 5% to $476,224 in July 2024, down from $502,793 in July 2023.
- Days on Market (DOM): The average DOM for condos increased by 15% to 53 days in July 2024, up from 46 days in July 2023.
For more information, contact Jeff Creamer, your local Kelowna Realtor at Royal LePage Kelowna, at 250-575-7112 or via email at jeff@shopkelownahomes.com.
Check out Last Month's Central Okanagan / Kelowna Real Estate Market Statistics
Source: Association of Interior Realtors