Is it a buyer's market for condos in Kelowna in 2026?

Yes. As of July 2026, the Kelowna condo market has 7.4 months of inventory, well above the 4–6 month range that defines a balanced market. Buyers have significant choice and negotiating power, with sellers averaging a 3.1% discount off their list price. Studio condos are the most challenged, with 27 months of inventory.

What is the benchmark condo price in Kelowna in 2026?

The benchmark condo price in the Central Okanagan (Peachland to Lake Country) is approximately $490,000 as of July 2026. This is down about 2% year-over-year and roughly 11% ($60,000) below the March 2022 peak of $550,000.

How many condos are for sale in Kelowna right now?

As of the end of July 2026, there are 787 condos listed on the MLS in the Central Okanagan area, down 18% from the same time last year (958 listings) but still above the 10-year average of 623. Additionally, there are an estimated 200–300 units of developer shadow inventory not appearing on MLS, bringing the true available supply to approximately 1,000+ condos.

How long does it take to sell a condo in Kelowna?

On average, condos in Kelowna took 72 days to sell (based on the last listing) in July 2026. When factoring in cumulative days including price reductions and re-listings, the average climbs to 108 days, about 3.5 months. 38 condos expired (went unsold after 60+ days) in July alone.

Which type of condo is easiest to sell in Kelowna?

Two-bedroom and larger condos move the fastest and hold value best. In July 2026, two-bedroom units accounted for 70 of the 107 total condo sales (65% of volume) with 6.6 months of inventory, closest to balanced. Studios have 27 months of inventory and are the hardest to sell. One-bedrooms sit at 7.1 months and three-plus bedrooms at 9.1 months.

Should I buy a condo in Kelowna in 2026?

If you're looking for value, 2026 is one of the better entry points in years. The benchmark price is $490,000, about 11% below the 2022 peak. Buyers can be patient, negotiate 3%+ off list price, and have 787+ listings to choose from. For long-term ownership, well-maintained two-bedroom units built in the early 2000s in desirable Kelowna neighbourhoods like Glenmore, Mission, or downtown offer good value. Studios and investor-grade units carry more risk given the excess supply.

The Real Reason People Are Leaving British Columbia

BC just lost 50,000 people in a single year. Four consecutive quarters of population decline. And economists who published the latest analysis don't expect any meaningful recovery through 2028. What does that actually mean for Kelowna?

What's Driving the Decline

This comes down almost entirely to policy. The federal government cut the number of temporary residents allowed into Canada — international students and temporary foreign workers mostly. BC had leaned heavily on that pipeline, so it's feeling the hit hard.

New permanent residents are still arriving, but the outflow of temporary residents is large enough to swamp those gains. Layered on top of that, people who already live in BC are leaving — mostly heading to Alberta, chasing lower housing costs and higher wages.

What This Means for Kelowna Specifically

Five years ago, Kelowna was the fastest-growing metro area in all of Canada. That story has changed significantly.

Look at how many new people the central Okanagan added each year: roughly 8,000 in 2022, 6,100 in 2023, 5,600 in 2024, and under 3,000 in 2025 — the weakest year of the decade. In 2025, only 646 people moved to Kelowna from other provinces. BC Stats now projects the central Okanagan may actually shrink in 2026, potentially dropping below 250,000 people.

What It Means for Real Estate

In the short term, less demand pressure means more inventory sitting, more negotiating room, and more subject-to-sale offers getting accepted. Buyers have more time and more choices right now.

But you need to hold two ideas at once. While demand is cooling, builders are pulling back hard. Building permits are down. Projects are getting shelved. And construction decisions made today will determine supply available in 2027 and 2028. If migration recovers even modestly — and there's nothing new to buy — this market could flip faster than people expect.

A downtown investor condo and a single-family home in the Lower Mission are living in completely different markets right now. Figuring out where your specific property fits is a conversation worth having.

Thinking About Buying or Selling in Kelowna?

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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