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Home » Kelowna Real Estate Stats - Market Update Nov 2021

Kelowna Real Estate Stats - Market Update Nov 2021

November 1, 2021

Kelowna Market Trends With Kelowna Realtor Darcy Nyrose

Welcome to sweater weather. That time of year in Kelowna where fall temperatures take hold and residents switch to sweaters and coats to stay warm. Generally, the real estate market follows suit with the temperatures. It cools off a bit in the fall, more in the winter and then heats up in the spring. This year, the market remains somewhat insulated. Listings and sales are down over last  year, but that is continuing to drive prices up. Across all categories, average sale pricing is up over last year and for the first time, the average sale price single family home has topped $1.1 million at $1,153,564. Watch the video to learn more.

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Kelowna Real Estate Market By The Numbers

Here's your 'by the numbers' quick snapshot of what's happening in the Kelowna real estate market and across the Central Okanagan.

In the condo market inventory is down 58% over last year, sales are down 6% over last  year and the average sales price has risen to $492,384.

Townhome inventory is down 48% over last year, sales are down 33% over last year and the average sales price has risen to $677,672.

In the single family home category we're down 25% in inventory over last year, 23% in sales but the average sales price has risen to $1,153,564.

 

In terms of pricing, we're seeing some big numbers in Kelowna. In the Single Family Home category there were 4 sales over $5-million plus an additional 3 sales over $4-million.  Compare that to September, 2021 where there was only 1 sale over 4-million (but it was $7-million).

Townhome prices are strong as well. The highest price townhome sale on the MLS was more than the average single family home price.

October saw some big condo sales as well. In fact, 2 Nyrose & Associates Listings were the #1 and #2 highest price condo sales on the MLS for the month. We're proud to report that Penthouse 1 at Ella sold for $3,090,000 and is one of the top condo sales ever reported on the MLS in Kelowna! #101 at 450 Parc was the second highest condo sale on MLS at $1,725,000.  There are still a few luxury condos for sale at 450 Parc - learn more here.

 

 

If you're looking to buy or sell, put the experience of the Nyrose Team behind you - contact us today. We'd love to chat with you and help ensure you are in the prime position to take advantage of the current market.

 

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