If you're a buyer at the high end of the Kelowna market, you hold most of the cards right now — especially in single-family homes and townhomes. There's an unusual exception in the luxury condo market worth paying attention to. Here's the full Q2 2026 breakdown.
444 active listings above $1.5 million as of the end of June, down 12.3% from last year. 116 single-family homes sold in Q2 — up nearly 21% over 2025. But 36 June sales against 444 listings gives 12.3 months of inventory — over a year's worth of supply.
Buyers and sellers are negotiating 3% off the last list price, and 6% off the original asking price. Over half of Q2 sales were in the $1.5M–$2M range. Median sale price: approximately $2 million.
121 active listings above $900,000, down 13.6% from last year. Q2 saw 28 sales — down 7% from 2025. 9 June sales against 121 listings gives 13 months of inventory — even deeper into buyer's market territory than single-family homes. Absorption rate: 7.4%. Median price: just under $1 million.
The luxury condo segment told a completely different story. 156 active listings, 61 Q2 sales (up 85% from 2025 — driven largely by new building completions), and 28 June sales. That math gives 5.6 months of inventory — just into balanced market territory.
Note: 12 of those 61 sales were new builds. Shadow inventory held by developers isn't captured in MLS counts. Median sale price: approximately $850,000.
For buyers at the luxury end: single-family homes and townhomes give you significant negotiating power and time. For sellers of those property types, patience and strategic pricing are essential — overpriced homes simply aren't moving.
The luxury condo market is more balanced, but it's driven partly by new construction completions. That dynamic may shift as the pipeline empties out.
Whether you're buying, selling, or just keeping an eye on the market, I'd love to connect. No pressure — just a straight conversation about where you stand.
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