Kelowna Real Estate Market Report
Executive Summary
The Kelowna, British Columbia real estate market is currently classified as a buyer's market. The median asking price is $799K, down 32.5% over the past 30 days.
There are currently 1,949 active listings. Inventory has increased 62.1% compared to last month.
Currently, listings spend an average of 53 days on market and the average price per square foot is $546.
Detached properties make up the largest share of the Kelowna market at 55% of active listings with an average price of $1.6M. Condo listings follow at 45% (avg $657K).
Sales Activity & Absorption
Volume
Market Signals
Association of Interior REALTORS reported 1,242 sales this period, 747 new listings appeared in the past month.
Association of Interior REALTORS Monthly Report
Residential real estate sales held steady in September despite the typical seasonal dip in activity, reports the Association of Interior REALTORS® (the Association).
A total of 1,242 residential unit sales were recorded across the Association region in September, down from August’s 1,319 units, yet up 17.8% compared to units sold in September last year.
New residential listings saw a 9.8% increase compared to September 2024 with 2,643 new listings recorded last month. The total number of active listings saw a 0.3% decrease in inventory compared to September 2024 with 9,853 recorded across the Association region. The highest percentage increase in active listings across the Association region was recorded in the Kamloops and District with a total increase of 9.7% compared to the same month last year.
“Real estate markets rarely move in a straight line and modest fluctuations from month to month are a normal part of the cycle. After being impacted by economic factors in the first half of the year, today’s trends reflect resilience and recovery,” says Association of Interior REALTORS® President Kadin Rainville, adding that “the fact that figures are stronger than last year, with active listings shrinking as sales climb, is an encouraging indicator that the market is gaining strength and stability.”
In the Okanagan and Shuswap/Revelstoke regions, the benchmark price for single-family homes saw increases last month in all sub-regions in year-over-year comparisons with the exception of the North Okanagan, which saw a decrease of 1.4%, coming in at $753,500. The townhome housing category saw benchmark price decreases in the Shuswap/Revelstoke, North and South Okanagan, while the Central Okanagan region saw an increase of 1.6% compared to September 2024, coming in at $736,500. The benchmark pricing in the condominium housing category recorded South Okanagan being the only region that saw an increase of 1.7% compared to the same time last year, coming in at $421,300.
“While today’s balanced conditions may ease the sense of urgency, it’s a sign of a healthy market finding its footing, providing buyers more breathing room and allowing sellers to navigate their options with confidence, which ultimately creates a healthier environment for thoughtful decisions on both sides,” notes Rainville.
Given the high stakes on such a significant financial transaction, home sellers and buyers can benefit from the knowledge and skills of a practiced REALTOR®. Contact your local REALTOR® to find out more about the real estate market and how they can help you achieve your real estate goals.
For more information, please contact:
Association statistical information: Email media@interiorrealtors.com
Source: Association of Interior REALTORS, Invalid Date
Market Balance
Demand moderately exceeds supply — conditions favor sellers.
Neighborhoods
| Area | Listings | Avg Price |
|---|---|---|
| Lower Mission | 21 | $2.5M |
| Kelowna South | 19 | $1.3M |
| Glenmore | 15 | $2.3M |
| Kelowna North | 13 | $767K |
| Wilden | 9 | $1.1M |
| University District | 9 | $639K |
| Springfield/Spall | 9 | $670K |
| South East Kelowna | 8 | $2.3M |
| Lake Country East / Oyama | 8 | $262K |
| McKinley Landing | 8 | $1.4M |
| Rutland North | 7 | $840K |
| Upper Mission | 5 | $1.6M |
Interest Rates & Affordability
Current Rates
Lower rates increase purchasing power. The Bank of Canada sets the policy rate which influences prime rates across lenders.
Estimated Monthly Payment
This is an estimate only. Actual rates and payments will vary based on your credit profile, lender, and mortgage terms.
Market Outlook
This is currently a buyer's market with more negotiating power for purchasers. The Kelowna market currently has 1,949 active listings with a median price of $799K.
- Prices declining (-32.5% in 30 days)
- Low price reduction rate (0% of listings)
- Low sell-through rate (47%)
- Slow-moving market (53 avg days on market)
- Average price per square foot is $546
Data sourced from CREA DDF® active and sold listings. Metrics computed from listing data updated daily. Prepared by Dan Braun with AI assistance, reviewed by our team.
Market data is calculated from active and recently sold MLS listings as of April 12, 2026. Past performance does not guarantee future results. Consult a real estate professional for specific advice.
Data provided by CREA DDF. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA). Information deemed reliable but not guaranteed.