Okanagan Market Reports

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.