Central Okanagan / Kelowna Real Estate Market Statistics Snapshot: March 2024Central Okanagan / Kelowna Real Estate Market Report: March 2024

Stay updated on the latest Central Okanagan / Kelowna real estate trends for March 2024. Here's a comprehensive overview of the market dynamics concerning single-family homes, townhomes, and condos:

Single-Family Homes:

  • Sales experienced a 28% decline in March 2024 versus March 2023, with 131 homes sold in March 2024, compared to 182 in March 2023.
  • New listings increased by 29%, reaching 583 in March 2024, up from 452 in March 2023.
  • The average price saw a 9% decrease to $989,282 in March 2024, compared to $1,082,232 in March 2023.
  • Average days on market (DOM) increased by 13% to 63 days in March 2024, up from 56 days in March 2023.

Townhomes:

  • Sales increased by 7% in March 2024 compared to March 2023, with 60 townhomes sold in March 2024 versus 56 in March 2023.
  • New townhome listings rose by 38% year-over-year, with 163 in March 2024 compared to 118 in March 2023.
  • The average price rose by 3% to $702,899 in March 2024, from $679,828 in March 2023.
  • Average DOM for townhomes increased by 15% to 46 days in March 2024, up from 40 days in March 2023.

Condos:

  • Sales experienced a 38% decrease, with 81 condos sold in March 2024, compared to 130 in March 2023.
  • New condo listings increased by 28%, totaling 294 in March 2024, down from 229 in March 2023.
  • The average condo price slightly rose by 0.4% to $480,482 in March 2024, from $478,830 in March 2023.
  • Average DOM for condos decreased by 2% to 56 days in March 2024, down from 57 days in March 2023.

For additional details, reach out to Jeff Creamer, your local Kelowna Realtor at Royal LePage Kelowna, at 250-575-7112 or via email at jeff@shopkelownahomes.com.

Source: Association of Interior Realtors