Updated October 4, 2026. Figures are the latest published at that date. September figures from the Association of Interior REALTORS are due in early October.
Sales in the Central Okanagan slowed in August 2026, prices were softer than a year earlier, and buyers had more time to decide. Here are the numbers, where they come from, and what they mean if you are buying or selling in Kelowna this fall.
The headline numbers (Central Okanagan, August 2026)
| August 2026 | August 2025 | |
|---|---|---|
| Total residential sales | 327 | 361 |
| Single-family sales | 142 | 157 |
| Single-family benchmark price | $1,056,700 | $1,077,900 |
| Townhouse benchmark price | $698,600 | $722,200 |
| Condo/apartment benchmark price | $465,700 | $493,000 |
| Single-family active listings | 1,219 | 1,482 |
| Condo/apartment active listings | 785 | 895 |
| Single-family average days to sell | 60 | 58 |
| Condo/apartment average days to sell | 79 | 68 |
Source: Association of Interior REALTORS, Market Statistics, Central Okanagan. AIR reports the Central Okanagan as one region and does not publish Kelowna on its own.
What changed
- Fewer sales: residential sales were down about 9% from August 2025. Across the whole Association area, sales were down 13.4%, and AIR noted the impact of the summer wildfires on activity.
- Year to date: 2,894 Central Okanagan sales from January to August 2026, against 2,934 in the same months of 2025 (calculated from AIR’s monthly figures), so the year as a whole is close to flat.
- Lower prices on condos and townhouses: condo/apartment benchmark prices were 5.5% lower than a year earlier and townhouses 3.3% lower.
- Less to choose from, but slower sales: single-family listings were down 17.7% year over year, yet homes took about two months to sell. At August’s pace, there were roughly 8 to 10 months of inventory across property types (calculated from AIR’s figures), which favours buyers.
Interest rates
The Bank of Canada held its policy rate at 2.25% on September 2, 2026, where it has been since October 29, 2025. The next decision is October 28, 2026.
Rents and new supply
- Kelowna-area rental vacancy was 6.3% in October 2025, up from 3.6% a year earlier, with an average two-bedroom rent of $2,098 (CMHC).
- Housing starts in the Kelowna area totalled 1,313 from January to August 2026, down 36% on the same period of 2025, with 4,034 units under construction (CMHC, August 2026).
- The City of Kelowna reported 3,467 net new homes in the first year of its provincial housing target (July 2024 to June 2025), against a five-year target of 8,774.
- The City cut Development Cost Charges by 25% from August 4, 2026 to September 30, 2028, which lowers the cost of new construction.
The forecast
BCREA’s August 2026 forecast expects about 8,500 sales across the Okanagan board area in 2026 (+0.3%) and an average price of about $775,000 (+1.2%), with 8,700 sales and $780,000 in 2027. Note that the Okanagan board area is wider than Kelowna.
What it means for you
- Buyers: more inventory and longer days on market give you room to negotiate, especially on condos and townhouses. Get pre-approved at today’s rates before you shop.
- Sellers: pricing is everything when homes take two months or more to sell. An accurate, data-based price beats a high list price that sits.
- Investors: vacancy is up and Kelowna’s short-term rental and tax rules changed in 2026. See my guide to buying an investment property in Kelowna.
Frequently asked questions
What is the average home price in Kelowna right now?
In August 2026 the Association of Interior REALTORS reported a Central Okanagan single-family benchmark price of $1,056,700, a townhouse benchmark of $698,600 and a condo/apartment benchmark of $465,700.
Is it a buyer’s or seller’s market in Kelowna?
August 2026 figures lean toward buyers: single-family homes took about 60 days to sell and there were roughly 8 to 10 months of inventory across property types, based on AIR’s numbers.
Are Kelowna home prices going down?
Condo and townhouse benchmark prices were lower in August 2026 than a year earlier, by 5.5% and 3.3%. BCREA’s August 2026 forecast expects Okanagan average prices to rise about 1.2% for 2026 as a whole.
How many homes sold in Kelowna in August 2026?
327 residential sales in the Central Okanagan, compared with 361 in August 2025, according to the Association of Interior REALTORS.
Sources
- Association of Interior REALTORS, Market Statistics (Central Okanagan, August 2026) and the September 3, 2026 news release
- Bank of Canada, policy rate announcement, September 2, 2026
- CMHC, Rental Market Survey (Kelowna CMA, October 2025) and housing starts, August 2026
- BCREA Housing Forecast Update, August 20, 2026
- City of Kelowna, Development Cost Charges; Report to Council, August 11, 2025 (housing target year 1)
Categorised in: Insights, Kelowna Real Estate
