KELOWNA REAL ESTATE MARKET UPDATE

Real Estate Market July 2021Statistics

Summer is now in full swing and the smoke unfortunately has settled in earlier than normal. The July real estate market showed a slowdown in sales but also active listings are down around ~45% of the normal amount of listings that we see at this time. Homes are still selling fast (and multiple offers) if priced correctly, but some are sitting a bit longer due to the asking price stretching the market.

• 608 total sales in July. (Down from 763 sales in June and 731 from 2020)

Sidenote, if you are looking for a reprieve from the smoke, a colleague of mine was up at Big White and there were blue skies and no smoke.

• 1378 total active listings which is down from 3027 listings last July and down from 1451 active in June.

• July median days to sell was 24 and the average days to sell was 38

• 746 New Listings in July which was down from 964 in June

Single Family Residential Homes

• Single-Family Sales 258

• New Listings 361

• Current Inventory 666 (666 in June and 1286 last July)

• Median Days to Sell 22

• Average Days to Sell 33

• Average Price $1,130,687 up from $898,822 last year

• Median Price $923,750 up from $749,450 last year

Townhome Activity

Townhome Sales 100 (123 Last July)

• New Listings 104

• Current Inventory 138

• Average Days to Sell 23

• Median Days to Sell 16

• Average Price $679, 678 ($550,230 last July)

• Median Price $623,950 ($525,00 last July)

Apartment/Condo

• Condo/Apt Sales 177

• New Listings 179

• Current Inventory 274

• Average Days to Sell 36

• Median Days to Sell 22

• Average Price $434,402 ($360,253 last July)

• MedianPrice $409,900 ($338,500 last July)

Have a great week and feel free to reach out! -Mark