The summer market in Kelowna continued to sizzle in Kelowna this July, with average housing prices continuing to show double digit increases over July 2020. While we did see a decrease in total sales from last summer, that number is more reflective of the lack of available inventory rather than lack of buyer interest, which is highlighted by how quickly homes are selling.
Here is a quick breakdown of the numbers for real estate sales in July 2021 in Kelowna, British Columbia.
Sales: 236 ( -28.9%)
Average Price: $933,600 (+31.5%)
Days on Market: 30 (-53.3%)
Inventory: 485 ( -54.0%)
Sales: 100 ( -18.75)
Average Price: $642,600 (+27.6)
Days on Market: 41 ( -69.5%)
Inventory: 137 ( -64.2%)
Sales: 177 (+18.0%)
Average Price: $552,900 (+21.2%)
Days on Market: 36 ( -56.1%)
Inventory: 274 ( -61.2%)
As seen, the condo and townhome categories are currently underserved in on the Kelowna real estate market, showing the largest percentage decreases in selling time and in inventory levels when comparing July 2021 to July 2021.
Source: Association of Interior Realtors, www.interiorrealtors.ca.