Central Okanagan / Kelowna Real Estate Market Summary: June 2023
Central Okanagan / Kelowna residential sales increased in June year-over-year across all housing types, with the largest increases in single-family home sales (46%) and condo sales (39%). The number of new listings fell across all housing types, with the largest decrease in townhome listings (25%). Average prices declined slightly for single-family homes (6%) and condos (3%) while increasing for townhomes (8%). Average days on market (DOM) continued to climb year-over-year for all housing types, with townhomes increasing most significantly (96%).
Single-Family Residential Homes
Residential real estate sales of single-family residential homes in the Central Okanagan increased 46% in June 2023 compared to June of 2022, with 231 homes sold in June 2023 versus June of 2022's 158.
The number of new listings of single-family homes in the Central Okanagan decreased 5% in June 2023 compared to June of 2022, with 601 new residential listings this June set against last June's 630 new listings.
The average price of single-family homes in the Central Okanagan declined 6% in June 2023 since June of last year, coming to $1,084,093 in June of 2023 compared to June of 2022's $1,153,114.
The average days on market (DOM) of single-family homes in the Central Okanagan increased 47% this June compared to June of last year, with 44 DOM this June versus last June's 30 DOM.
Townhomes
Sales of Central Okanagan townhomes increased 8% in June 2023 since June of 2022, with 83 townhomes sold in June of 2023 compared to June of 2022's 77.
The number of new townhome listings in the Central Okanagan declined 25% this June since June of 2022, with 154 new listings this June versus last June's 206.
The average price of townhomes in the Central Okanagan rose 8% this June compared to June of last year, coming to $741,828 in June of 2023 versus June of 2022's $694,794.
The average days on market (DOM) of townhomes in the Central Okanagan significantly increased by 96% this June versus June of last year, with 49 DOM in June of 2023 balanced against 25 DOM in 2022.
Condos
Condo sales in the Central Okanagan increased 39% in June of 2023 compared to June of 2022, with 142 condos sold this June compared to last June's 102.
The number of new condo listings in the Central Okanagan decreased 4% in June 2023 since this time last year, with 259 new condo listings this June versus 270 new listings last June.
The average price of Central Okanagan condos decreased 3% this June compared to June of 2022, coming in at $492,425 in June of 2023 balanced against last June's $505,412.
The average days on market (DOM) of condos in the Central Okanagan rose by 36% in June 2023 since June of last year, with 45 DOM in June of 2023 compared to last June's 33 DOM.
Questions? Contact Jeff Creamer, Kelowna Realtor with Royal LePage Kelowna, by phone at 250-575-7112 or by email at jeff@shopkelownahomes.com.
View Last Month's Central Okanagan / Kelowna Real Estate Market Statistics
Source: Association of Interior Realtors