Kelowna Real Estate Market Update: Clarity Without the Noise

If you’ve been following the Kelowna and Central Okanagan real estate market, there’s a good chance you feel conflicted. Headlines suggest one thing. Friends and social media say another. And what buyers and sellers are actually experiencing on the ground doesn’t seem to match either.

Some people believe the market is dead.
Others feel prices never really came down.
Many are frozen, unsure whether now is the right time to buy or sell.

This market update is designed to slow everything down and focus on what actually matters: local data, real buyer behaviour, and realistic expectations for the Kelowna and Central Okanagan housing market.

Watch the Full Kelowna Market Breakdown:

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Kelowna Real Estate in 2026: Will You Sell Too Early, Too Late – or Just Right?

Every market has its turning point. Kelowna real estate is no different.

For Kelowna, 2026&7 is shaping up to be that year.

Even for sellers who want to go, the challenge is when: is it too early, too late, or exactly on time?

The past two years told the same story, where prices held steady, but condos and townhomes grew in supply, largely due to the flux of upcoming rental-only housing options.

Those inventories began to languish in 2024-25. 

Single-fam inventory keeps on ticking though, with prices moderately declined from the bubble war highs of 2021-22, which did not reflect intrinsic reality, but rather a temporal moment for sellers to rejoice, repocket,…

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While major urban centres across Canada experienced a quieter-than-usual spring, Kelowna continued to show strength in its residential real estate market.

Despite uncertainty at the national level, local demand—particularly for detached homes—remains steady, supported by tight supply and stable fundamentals.

Market Highlights: July 15th, 2025!

Kelowna’s 2.5% year-over-year increase in total sales outpaced many regions in British Columbia and Canada overall.

Nationally, the aggregate home price rose by just 0.3%, while Kelowna’s climbed by more than 5%.

Metric

Q2 2025

YoY Change

Aggregate Home Price

$868K

+5.1%

Detached Median Price

$1.2M

+6.0%

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A major step forward in addressing Kelowna’s growing need for senior housing is now underway.

Troika Management Corp., in partnership with Sussex Retirement Living, has submitted a Development Permit application to the City of Kelowna for a 175-unit, 6-storey independent living apartment building at 728 Valley Road in the heart of Glenmore.

This proposed project—strategically located next to The Vineyards, a memory care facility also operated by Sussex—aims to create an active, amenity-rich retirement community for seniors who are ready to downsize but still want independence, community, and convenience.

Meeting the Needs of Kelowna’s Aging Population

Kelowna is one of Canada’s fastest-aging cities, and the demand for quality senior housing is…

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After a challenging start to 2024, marked by high interest rates and uncertain property valuations, the Canadian real estate market is entering 2025 with cautious optimism.

In fact, 2025 could mark the beginning of a new cycle in the Canadian real estate market as we saw the highest sales levels in October 2024 since the boom market of 2022.

Affordability challenges persist in the Canadian housing market, but declining mortgage rates & borrowing costs, new government policies, a commercial rebound, and a growing, yet aging, population are all setting the stage for a year of strong market activity.

Here are 10 factors shaping housing market predictions in Canada for 2025 - including a new price forecast from the Canadian Real Estate Association…

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As September unfolds, the real estate market in Central Okanagan presents a mixture of challenges and opportunities for potential homebuyers and sellers. This blog post delves into the latest market statistics from Central Okanagan, revealing trends in inventory levels, pricing, and the rental market that are reshaping local real estate dynamics.

Market Overview


In September 2024, Central Okanagan's real estate market saw significant activities with a rise in new listings and adjustments in sales and pricing. With 882 new listings, the market experienced a 12.5% increase from the previous year, signaling a more vibrant listing environment. However, units sold decreased to 317, marking a decline of 11.7%. The benchmark price for homes…

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Here’s my theory on why our market has been so hot lately.

Search All Homes on the MLS | Get a Home Valuation

Why, exactly, is our real estate market so crazy right now? By now, you’ve likely heard me mention there was some pent-up demand from the lockdown back in April, but that’s largely already come to pass. There’s something bigger fueling our market right now, and I believe it’s a full-on behavioral shift.

If you look back at the last 10 to 15 years, there’s been a trend away from so-called ‘McMansions’—giant homes that require lots of maintenance—toward downsizing and getting rid of unnecessary aspects. There was a sort of urban densification occurring, as people moved to city hot spots where they could walk to their favorite…

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With the first half of the year on the books, I wanted to summarize where we are at during these interesting times. As you might expect, with two years in a row of double-digit property value growth in the Okanagan, and the headlines that go with it, we have seen the number of properties purchased for investment increase by 40%. This is a combination of baby boomers looking to augment their retirement income and out-of- towner’s catching wind that Kelowna’s market is in the full swing of a real estate boom and looking to get a piece of the action.

News For Investors

Now not all real estate investments in Kelowna have performed equally. Some have really exploded. Those holding properties in the new RU7 designations are seeing huge gains as values on…

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We hear headlines like the central Okanagan home values are up 8.5% year over year and that’s great, but which neighborhoods in Kelowna are driving that appreciation? Which neighborhoods are performing well above the regional average? Whether you’re an investor looking to buy in the hottest little pocket or just a homeowner curious to know how your neighborhood stacks up, this little comparison should be of interest to you.

Before we jump into the top 5 growth neighborhoods, here is a bit of context to give you a frame of reference. The bottom 5 neighborhoods only appreciated by between 4% and 10%.

OK and now for the list. You will note that the top 3 are essentially in a 3-way tie and at 23% price growth. A couple tenths of a percent can be swayed…

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UPDATE - READ THE UPDATED 2017 Q3-Q4 VANTAGE REPORT HERE

With the first half of the year on the books, I wanted to summarize where we are at during these interesting times.

The Desire for Investment Properties Is Staggering

As you might expect with two years in a row of double digit property value growth in the Okanagan, and the headlines that go with it, we have seen the number of properties purchased for investment increase by 40 percent. This is a combination of baby boomers looking to augment their retirement income and out-of-towners catching wind that Kelowna’s market is in the full swing of a real estate boom and looking to get a piece of the action.

Now not all real estate investments in Kelowna have performed equally. Some have…

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