Okanagan Market Snapshot

October has arrived with crisp mornings, colourful fall leaves, and the anticipation of Thanksgiving gatherings. As we move into the heart of autumn, the Central Okanagan real estate market continues to show steady momentum, even as conditions remain firmly tilted in favour of buyers.

Sales activity in September was strong, with year-over-year gains across all property types in the Kelowna and Central Okanagan area. Residential home sales rose 34% compared to last year, condos climbed 24%, and townhouses jumped 38%. Buyers are clearly active—but the supply side tells a different story. With nine months of inventory for residential homes and eight months for both condos and townhouses, the market remains well within buyer’s market territory.

Average sale prices told an interesting story in September. Residential homes averaged $1,060,499, up slightly from last year. Townhouses saw a sharp rise to $845,373, up 26%. Condos averaged $501,619, marking a 9% increase despite the large amount of inventory available. One possible explanation is that higher-priced condos are finally moving, as sellers have adjusted their asking prices to meet the market. With these reductions, buyers may be seizing opportunities in the higher end of the Kelowna condo market rather than the more plentiful entry-level listings.

Days on market also highlight how conditions have shifted. Single-family homes are now taking an average of 61 days to sell, and condos 78 days—both longer than last year. This gives buyers more time to negotiate and reinforces their current advantage.

Looking ahead, interest rates and broader economic factors will continue to influence the pace of activity. For now, buyers enjoy more choice and negotiating power, while sellers who price strategically can still achieve excellent results.

Thinking of selling? If you’re on the fence about when to list your Okanagan home, I’d be happy to provide a free market evaluation and strategy session tailored to your property. Together, we’ll determine whether fall or spring makes the most sense for your bottom line.