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Home » Kelowna Real Estate Stats - Market Update - Here's What Happened in May 2024

Kelowna Real Estate Stats - Market Update - Here's What Happened in May 2024

Kelowna Real Estate Stats & Trends - Market Watch With Kelowna Real Estate Agent Darcy Nyrose

June 1, 2024

The weather dampened the May real estate market a bit, making it more difficult for our out-of-town buyers from the Lower Mainland and Alberta to make the drive over. How is the short-term rental ban and interest rates affecting the market? Watch this month's Kelowna Real Estate Market recap with Darcy Nyrose to find out more.

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Kelowna Real Estate Market By The Numbers

Kelowna Condo Real Estate Market Stats - May 2024

We have more condos for sale than this time last year and last month which means more selection for buyers. Sales are down over last year, but up over last month which is great to see the sales follow the inventory. The average price of a condo in the Central Okanagan is $486,119.

The most expensive condo sale in May was one located on Ellis which sold for $1,110,000. There were only 3 condos that sold over $1-million.

Kelowna Townhome Real Estate Market Stats - May 2024

Townhome inventory is up over last year and last month, which is great news for townhome buyers, offering more selection to choose from. And while sales volume is down, the average price of a townhome in the Central Okanagan is up, averaging at $716,284.

The most expensive townhome sale was a townhome on Lakeshore, selling for $2,325,000. Only 4 townhomes sold over $1-million in May.

Kelowna Single Family Home Real Estate Market Stats - May 2024

More Single Family Homes are for sale now than in April or this time last year, but it hasn't yet resulted in an increase in sales. The average sale price of $1,108,500 is down slightly over May of 2023, and up slightly over April.
The most expensive Single Family Home sale in May was on Diamond View in West Kelowna, selling for $3,048,000. Only 10 Single Family Homes sold over $2,000,000, while 123 of the 1,747 active listings were homes over $3,000,000.

 

If you're looking to buy or sell Kelowna real estate, contact Nyrose & Associates today! 

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