What is the average home price in Kelowna?

The single-family benchmark price in the Central Okanagan was $1,047,900 in March 2026, a 2.3% decrease from March 2025. Kelowna urban detached homes typically range from $950,000 to $1,350,000, townhouses from $550,000 to $750,000, and condominiums from $350,000 to $600,000.

Is Kelowna a buyer's or seller's market in 2026?

As of March 2026, the Central Okanagan is moving toward balanced conditions with 364 total residential sales, up from February's lower levels. Single-family inventory has dropped 18.1% year-over-year to 1,139, while sales are rising, suggesting the market is tightening as spring demand picks up.

Is Kelowna a good place to invest in real estate?

Kelowna offers a lifestyle-driven market with strong long-term demand from retirees, remote workers, and students at UBC Okanagan. The city has limited buildable land due to the lake, mountains, and Agricultural Land Reserve. However, short-term price softening and BC's short-term rental regulations have moderated recent investor returns.

What is the BC Property Transfer Tax in Kelowna?

Kelowna buyers pay BC's Property Transfer Tax: 1% on the first $200,000 and 2% on the $200,000 to $2,000,000 portion. On a home at the Central Okanagan SF benchmark of $1,047,900, the PTT is approximately $18,958. First-time buyers may qualify for a full exemption if the purchase price is under $500,000.

Kelowna Housing Market Report — March 2026

Kelowna is the urban centre of the British Columbia Interior’s Okanagan Valley, with a population of approximately 168,000 in the Kelowna Census Metropolitan Area (CMA). Known nationally for its warm dry summers, world-class wineries, orchards, and outdoor recreation, Kelowna has evolved into a major business and technology hub — home to a growing tech sector, UBC Okanagan, Kelowna International Airport, and a thriving tourism economy.

Supply and demand figures below cover the Central Okanagan sub-region as reported by the Association of Interior REALTORS® (AIR), which encompasses Kelowna, West Kelowna, Lake Country, and Peachland.

Key Highlights — March 2026 (AIR / Central Okanagan):

Single-family benchmark price: $1,047,900 (-2.3% year-over-year)
Total residential sales: 364 (up from February’s 262)
SF active listings: 1,139 (-18.1% year-over-year)
SF days on market: 56 (unchanged year-over-year)
Market: tightening toward balanced as inventory declines and spring sales pick up

Kelowna / Central Okanagan Home Prices — March 2026

Home Type	Benchmark / Range	Y/Y Change
Single Family (benchmark)	$1,047,900	-2.3%
Detached (Kelowna urban)	$950,000–$1,350,000	—
Detached (West Kelowna/Lake Country)	$800,000–$1,100,000	—
Townhouse	$550,000–$750,000	Declining
Condo Apartment	$380,000–$550,000	Declining

March 2026 data is for the Central Okanagan sub-region (Association of Interior REALTORS®). SF benchmark represents a home of “typical attributes.” Townhouse and condo benchmarks saw year-over-year declines across all Okanagan sub-regions.

Market Metrics — March 2026

Metric	Value
SF Benchmark Price	$1,047,900
SF Benchmark YoY	-2.3%
SF Benchmark MoM	-0.8%
Total Residential Sales	364
SF Sales	160 (+8.1% YoY)
SF New Listings	448 (-20.0% YoY)
SF Active Listings	1,139 (-18.1% YoY)
SF Days on Market	56
SF Sales-to-Active Ratio	14.0%
Data Source	Association of Interior REALTORS® (AIR)

Income Required to Buy in Kelowna

Assumptions: 20% down payment, 3.99% contract rate (5.99% qualifying rate), 25-year amortization, GDS ratio of 32%, property tax $354/month, heating $150/month.

Home Price	Mortgage (80%)	Income Required
$1,047,900 (SF benchmark)	$838,320	$221,200
$650,000 (townhouse)	$520,000	$146,200
$475,000 (condo)	$380,000	$112,300
$1,200,000 (premium detached)	$960,000	$250,300
$1,500,000 (luxury detached)	$1,200,000	$307,600

Key Trends — Kelowna March 2026

Spring Momentum Building: March saw a significant seasonal pickup, with 364 total residential sales in the Central Okanagan — up sharply from February’s 262. Single-family sales of 160 were up 8.1% year-over-year, the strongest sign yet that buyers are returning after a cautious start to 2026. As AIR President Kadin Rainville noted, “strategic pricing is essential to capture buyer attention.”

Inventory Tightening Rapidly: SF active listings dropped 18.1% year-over-year to 1,139 — a notable shift from earlier months when inventory was elevated. New SF listings fell 20.0% year-over-year, suggesting sellers are holding back. This supply contraction, paired with rising sales, is pushing the SF sales-to-active ratio to 14.0%, approaching balanced territory.

Prices Soft But Stabilizing: The SF benchmark edged down 0.8% month-over-month and 2.3% year-over-year to $1,047,900. This is a much smaller decline than the 4–7% YoY drops seen in late 2025, suggesting the correction is maturing.

Tech and Migration Demand: Kelowna continues to attract remote workers and tech-sector employees, particularly from Metro Vancouver and Calgary, drawn by lifestyle factors and relatively lower housing costs versus the coast. BC Tech Hub designation and UBC Okanagan graduate output support this trend.

Lake Country and West Kelowna: Buyers priced out of Kelowna proper are finding value in Lake Country (north of Kelowna, near the airport) and West Kelowna (across Okanagan Lake). These sub-markets offer similar lifestyle access at 5–15% lower prices.

Notable Neighbourhoods in Kelowna

Lower Mission: One of Kelowna’s most desirable residential areas. Established detached homes near Okanagan Lake beaches, boutique shopping at Pandosy Village, and excellent schools. Detached $1.1M–$1.8M+.

Upper Mission: Newer hillside development southeast of the city with lake views and modern builds. Detached $900k–$1.4M. The Mission Creek Greenway is a major amenity.

Glenmore: Established north Kelowna neighbourhood with a mix of housing types. Close to UBC Okanagan and Kelowna International Airport. Detached $800k–$1.2M; townhomes $600k–$750k.

Downtown Kelowna: Urban waterfront district undergoing major development. Condos above restaurants and offices with views of Okanagan Lake. High-rise condos $500k–$900k+.

Rutland: Most affordable Kelowna district. Diverse community, excellent transit, major commercial corridors. Detached $750k–$1.0M; townhomes $500k–$650k.

West Kelowna: Separate municipality across Okanagan Lake connected by Westside Road and William R. Bennett Bridge. Winery corridor (Mission Hill, Quails’ Gate), quieter character. Detached $800k–$1.2M.

Lake Country: Growing community straddling the Kelowna–Vernon corridor. Wood Lake, Kalamalka Lake, and Okanagan Lake frontages. Detached $750k–$1.1M.

BC Property Transfer Tax — Kelowna

BC PTT on a $1,047,900 home (SF benchmark):

Portion	Rate	Tax
First $200,000	1.0%	$2,000
$200,001–$1,047,900	2.0%	$16,958
Total		≈ $18,958

First-time buyers may qualify for the BC First Time Home Buyers’ Exemption (full exemption on homes up to $500,000; partial exemption up to $525,000). At the SF benchmark of $1,047,900, the exemption will not apply; however, condo buyers in the $450k range may benefit.

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Data Sources

Association of Interior REALTORS® (AIR) — Central Okanagan, March 2026
Canadian Real Estate Association (CREA) — National MLS® Statistics
Data period: March 1–31, 2026