Okanagan Market Reports

Okanagan Market Update — August 2026

Kelowna · Vernon · Penticton · Source: Association of Interior REALTORS®

August 2026 saw broad year-over-year sales declines across the Okanagan, with Kelowna down 9.4% to 327 units and Vernon and Penticton each off more than 33%. Active inventory continued to contract — down 12–13% across all three markets — and new listings fell 17–25%, tightening supply even as buyer activity eases heading into fall. Dollar volume in Kelowna dropped 10.0% to $264.5M, reflecting fewer sales and modest price softening in some segments.

In Kelowna, single-family homes held a benchmark of $1,056,700 (+0.2% YoY) while condos softened to $465,700 (-5.5%) and townhouses eased to $698,600 (-3.3%). Vernon’s single-family benchmark edged to $794,300 (+0.7%) with active inventory down 24.6% — the tightest sub-market in the region. Penticton saw the sharpest condo sales decline (-57.1%) while single-family benchmarks held near flat. Across all three markets, new listings dropped 17–25% year-over-year, pointing to continued supply tightening heading into fall.

Okanagan Market Update — July 2026

Kelowna · Vernon · Penticton · Source: Association of Interior REALTORS®

July brought a steady summer across the Okanagan, with Kelowna's dollar volume surging 13.6% to $403.8M even as unit sales held nearly flat (-0.2%) — a sign that higher-value properties drove activity. Vernon and Penticton both saw modest year-over-year sales declines, but active inventory fell 14–15% across all three markets and new listings dropped 17–27%, tightening supply heading into fall.

In Kelowna, townhouse sales jumped 14.8% year-over-year while single-family homes held the $1M+ benchmark and sold faster than last July. The condo segment eased on both sales (-7.0%) and price (-2.0%). Vernon’s single-family segment led at +5.8% with inventory down 24.1%, the tightest supply in the region. Penticton saw broad softening across all property types but benchmark prices stayed positive — prices holding even as volume eases.

Kelowna Luxury Real Estate — Q2 2026

Single Family Homes · Townhomes · Condos · Source: Association of Interior REALTORS®

A segment-by-segment breakdown of Kelowna’s luxury market in Q2 2026, covering sales activity, pricing, and inventory for single family homes over $1.5M, townhomes over $900K, and condos over $700K in Central Okanagan.

Okanagan Market Update — June 2026

Kelowna · Vernon · Penticton · Source: Association of Interior REALTORS®

June showed meaningful improvement across the Okanagan, with Kelowna leading at 458 sales — up 9.8% year-over-year — and dollar volume climbing 12.6%. Vernon gained as well, with sales up 5.1% and dollar volume up a strong 20.9%. Penticton was essentially flat on unit sales (+0.6%) but saw dollar volume slip 9.9%. New listings fell sharply in all three markets, down 12–22% from a year ago, and active inventory continued to pull back across the region.

In Kelowna, the condo segment led with sales up 26.9% year-over-year, while single-family and townhouse sales also rose — the market is sitting at 6.9 months of inventory overall. Vernon had 5.4 months of inventory, the tightest of the three, with single-family sales up 8.0%. Penticton's townhouse segment was the standout with sales up 20.0%, though the overall market at 7.8 months remains in buyer territory. Active listings were down 11–15% year-over-year across all three areas.

Okanagan Market Update — May 2026

Kelowna · Vernon · Penticton · Source: Association of Interior REALTORS®

Penticton's South Okanagan was the standout this May, with unit sales up 26.6% and dollar volume up 14.1% year over year, while Kelowna and Vernon both saw modest pullbacks in sales and pricing. Across all three markets, new listings fell sharply compared to last May, gradually tightening supply even as overall sales activity holds close to last year's pace.

Kelowna's condo and apartment segment led activity with sales up 25.5% year over year, even as single-family and townhouse sales slowed. At the current pace, Kelowna has 7.2 months of inventory, a market that favours buyers. Vernon's condo sales also outperformed at +6.7%, while Penticton saw gains across every property type, led by a 68.8% jump in condo and apartment sales.