Generally, the housing market in Kelowna tanks a bit in November.

The weather turns, the sky is grey, Christmas nears and those trying to sell and buy property tend to lose interest.

But, this November buying and selling action was busier than expected, according to statistics from the 2,600-member Association of Interior Realtors.

"While real estate market activity typically slows as temperatures drop, the market seems to have held on to some of the recovery seen in the fall with a healthy degree of sales above that of last year in November," said association president Kaytee Sharun.

To put that into numbers, last month in Kelowna, 123 single-family homes sold, up 15% from November 2023.

The benchmark selling price of a typical single-family home in November was $1,013,400, up just 1.6% from a year before.

The record-high benchmark was $1,131,800 in April 2022.

Photo credit: Realtor.caThis 2,300-square-foot house on Hardie Road is listed for sale for $1,025,000, which is just a little more than the benchmark selling price of $1,013,400 of a typical single-family home in Kelowna in November.

For townhouses, 50 sold last month, up a dramatic 47.1% from the same month last year.

Meanwhile, over the same period, the benchmark selling price of a typical townhouse slipped 3.7% to $726,400.

The record-high benchmark was $829,000 in May 2022.

A total of 98 condominiums changed hands in Kelowna in November, up 58.1% from November 2023.

Yet, the benchmark selling price of a typical condo over the past year slid 4.5% to $476,500.

The record-high benchmark was set in April 2022 at $557,700.

"The welcomed interest rate cuts of recent months may have helped spur a more optimistic outlook throughout the region, which may have contributed to busier than usual activity for this time of year," added Sharun.

Thus said, it still takes a while to sell a home.

The average in November for single-family homes was 70 days, up 21% from November 2023.

For townhouses it was 60 days, up a whopping 92.3% from last year.

And, for condos, 63 days, up 19% from November 2023.

"As consumer confidence appears to be gradually rebounding, pricing properties according to current market conditions will be crucial for real estate activity to maintain its current momentum as we head into the new year," said Sharun.

What that means is potential buyers tend to have the upper hand and can take their time to comparison shop and negotiate on price.

_{Thumbnail photos from Realtor.ca.}