Central Okanagan / Kelowna Real Estate Market Summary: September 2023
Central Okanagan / Kelowna area residential real estate sales dipped in September 2023 year-over-year across all housing types, with the largest declines in single-family homes and condo sales. Conversely, the number of new listings rose in all housing categories, with the largest increases in townhomes and single-family homes. Average prices remained on par year-over-year for single family homes while declining for townhomes and condos. Average days on market (DOM) rose for all housing types, with condos seeing the greatest increase in DOM.
Single-Family Residential Homes
Residential real estate sales of single-family residential homes in the Central Okanagan fell 25% in September 2023 compared to September of 2022, with 154 homes sold in September 2023 versus September of 2022's 116.
The number of new listings of single-family homes in the Central Okanagan rose 20% in September 2023, with 480 new residential listings this September compared to last September's 399 new listings.
The average price of single-family homes in the Central Okanagan in September 2023 remained mostly on par with September of last year, coming to $1,093,992 in September of 2023 set against September of 2022's $1,093,296.
The average days on market (DOM) of single-family homes in the Central Okanagan increased 25% this September compared to September of last year, with 60 DOM this September versus last September's 48 DOM.
Townhomes
Sales of Central Okanagan townhomes declined by 11% in September 2023 since September of 2022, with 42 townhomes sold in September of 2023 compared to September of 2022's 47.
The number of new townhome listings in the Central Okanagan increased 29% this September since September of 2022, with 157 new listings this September set against last September's 122.
The average price of townhomes in the Central Okanagan fell 9% this September compared to September of last year, coming to $710,740 in September of 2023 versus September of 2022's $778,794.
The average days on market (DOM) of townhomes in the Central Okanagan increased by 26% this September since September of last year, with 54 DOM in September of 2023 compared to 43 DOM in 2022.
Condos
Condo sales in the Central Okanagan fell 29% in September of 2023 compared to September of 2022, with 72 condos sold this September compared to last September's 101.
The number of new condo listings in the Central Okanagan increased 10% in September 2023 since this time last year, with 218 new condo listings this September set against 198 new listings last September.
The average price of Central Okanagan condos decreased 10% this September compared to September of 2022, coming in at $531,634 in September of 2023 compared to last September's $588,830.
The average days on market (DOM) of condos in the Central Okanagan rose 38% in September 2023 since September of last year, with 58 DOM in September of 2023 compared to last September's 42 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