Kelowna Real Estate Listings | View All
July 1, 2024
Buyers - it's your market. This is the most inventory that's been on the market in the past 10 years (3,424 active listings in all categories in the Central Okanagan) - with last month and Spring/Summer of 2014 being next in line (all over 3000). With 9.6 months of inventory of Single Family Homes, 7.5 months of inventory for townhomes and just over 8 months of inventory for condos, buyers have a lot of choice out there. We're seeing buyers taking their time, practicing patience, and waiting for the right home at the right price. Tune in as Kelowna real estate pro Darcy Nyrose (Personal Real Estate Corporation) uncovers what happened in the Kelowna market in June.
With just over 8 months of inventory, the condo market is a buyer's market with more selection out there for today's buyers. The condo market also represents 26% of total inventory right now. Sales may be down in the condo market; however, prices have remained fairly consistent over the past year.
Townhome inventory is up over last month and this time last year. In fact, this is the most townhome inventory that our market has seen throughout the past 10 years. With 449 active listings, the last time the market had over 400 listings for sale was in April/May/June of 2019 and August of 2014.
But, all this inventory only represents approx 13% of the total market.
If you're looking to buy or sell Kelowna real estate, contact Nyrose & Associates today!
