There's been a noticeable shift in the Kelowna townhome market this year. More townhomes are selling than this time last year, inventory has eased, and the market is looking a lot more balanced. Prices are a different story — they haven't moved nearly as much as the rest of the market. Here's the full breakdown of July 2026 numbers for the Central Okanagan townhome market.
July saw 70 townhome sales in the Kelowna area — just 4 below the 10-year average. That's a meaningful improvement: the market bottomed out at 47 sales not long ago, and we're now back up to 70. Year-over-year, July sales were up nearly 15% compared to July 2025. Year-to-date numbers are slightly behind last year overall, but the trend through June and July has been encouraging. Note that May 2026 was particularly slow at just 55 sales — the recent pickup is welcome.
There were 418 active townhome listings at the end of July — 21.5% above the 10-year average of 344. That said, inventory has been declining month over month (down 7.7% from June to July, and 3.5% year-over-year). The trend is moving in the right direction. For context, 2021 saw record-low inventory in a full seller's market — we're clearly in different territory today, but the gap is slowly narrowing.
The market is sitting at the very edge of balanced — but when you get into specific neighborhoods and price ranges, buyers still have the upper hand. Buyers are negotiating an average of 2.5% off the list price (list-to-sale ratio of 97.5%). The absorption rate in July was 16.7%, meaning about 17 out of every 100 listed townhomes sold. There were also 18 expired listings — properties that sat on the market for 60+ days without selling, usually due to overpricing.
The average days on market in July was 66 days. When you factor in cumulative days on market (which includes relisted properties and price-drop relistings), that number climbs closer to 90 days for aspirationally priced homes. If you're selling, this matters: buyers notice when a property has been sitting. Pricing within reason from the start will sell your townhome significantly faster than the average.
The benchmark price for a Kelowna townhome sits at just under $710,000 — down about 1.5% from this time last year and down $129,000 (roughly 15%) from the February 2022 peak of $838,000. Prices bottomed out in January 2026 at around $670,000 and climbed steadily through May. Since May, there's been a slight pullback. If you bought anywhere above current price levels, you're likely underwater if you need to sell today.
The half duplex market in Kelowna mirrors the townhome market closely. July saw 10 half duplex sales with an average price of $740,000 (ranging from $450,000 to over $1,000,000). The most active price range was $750,000–$850,000. Average days to sell was just over two months, with cumulative days closer to three months. With 66 active listings and only 10 sales, that's 6.6 months of inventory — a buyer's market.
If you're buying: you still have a lot of choice and prices haven't run away, but improving sales and falling inventory mean the market is getting a little more competitive. You still have negotiating power — use it.
If you're selling: conditions are improving, but buyers remain selective. Pricing and presentation still matter a lot. The 66-day average days on market is a clear signal — overprice, and your listing gets stigmatized. Price it right from the start and it sells much faster.
The overall numbers are just a starting point — price range, neighborhood, and even the specific complex can look very different. I'm happy to walk you through what's happening in the part of the market that applies to you.
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