Kelowna Real Estate March 2026 Market News Prices & Trends

Kelowna Real Estate Market March 2026 -what’s been happening.

This month’s Kelowna Real Estate Market Report for March 2026 continues to report a mix of signals. On one hand, market conditions remain challenging, with higher inventory levels giving buyers plenty of choice. On the other hand, I’m starting to hear of multiple-offer situations, particularly on homes that are well-priced or that buyers feel represent good value—even if those properties have been sitting on the market for a while.

Buyers are still taking their time and being selective. With more listings to consider across many sectors, they’re carefully weighing location, condition, and price as they search for “the one.”

From my perspective, this is very much a value-driven market. When a property is priced well and shows nicely, it can attract strong interest. When it isn’t, buyers are comfortable moving on to the next option. Also, the addition of a suite or suite-potential continues to be attractive, as Buyers continue to wrestle with affordability.

Single Family Homes – February 2026

February brought a noticeable lift in activity across the Kelowna market. Sales increased 22.6% month-over-month, suggesting buyers are beginning to re-engage after a quieter January. Inventory also rose 10.6%, giving buyers more choice as we head toward the spring market.

Pricing, however, softened. The median price declined to $873,125, down 8.1% from January and 16.8% year-over-year, reflecting ongoing price adjustments in certain segments of the market.

Homes sold faster than last month, with days on market dropping to 61 days, though properties are still taking longer to sell compared with February last year.

Bottom line: more activity is returning, but buyers remain price-sensitive, and inventory levels continue to shape negotiations.

Condos February 2026

February showed a solid pickup in activity in the condo segment. Sales jumped 34.5% month-over-month, a good sign that buyers are beginning to step back into the market after a slower January.

Inventory edged up 3.8%, keeping selection fairly steady. Compared with February last year, available condo supply is almost unchanged, suggesting the market is finding some balance.

Pricing moved slightly higher month-to-month, with the median condo price rising to $435,500, up 6.2% from January. Year-over-year, prices are essentially flat, down only 1%, indicating relative price stability in this segment.

Condos are also selling faster, with days on market dropping to 55 days, though properties are still taking longer to sell than they did a year ago.

Bottom line: Re-sale condo demand improved in February, prices stabilised, and buyers are becoming more active as we move toward the spring market.

The New-Build sector remains more challenging. Some buyers nearing completion are finding current appraisal values below their original contract prices, meaning they may need to bring additional funds to close. At the same time, higher construction and financing costs have slowed pre-sales, and several local condo projects remain on pause as developers wait for market conditions to improve.

Town Homes February 2026

The townhome market in Kelowna also saw stronger activity in February. Sales increased 25% month-over-month, suggesting buyers are returning to the market as we move closer to the spring season.

Inventory rose 11.5% from January, giving buyers more options. However, supply remains 7.9% lower than February last year, which continues to provide some support for pricing.

The median townhome price came in at $650,000, down 1.7% from January and 7.4% lower year-over-year, reflecting ongoing price adjustments in the market.

Town Homes are selling much faster than last month, with days on market dropping sharply to 51 days, although properties are still taking longer to sell compared with this time last year.

Bottom line: activity is improving and homes are moving faster, but buyers remain cautious and pricing continues to adjust in parts of the townhome market.

What Could Shape the Kelowna Market This Spring?

As spring approaches, Kelowna is shaping up as a buyer’s market, and there’s a lot for buyers to weigh.

Inventory remains high, which could keep prices steady, while economic uncertainty and global events—like the war in the Middle East—have ripple effects on markets and inflation.

Local factors add another layer: fewer foreign students may keep UBCO condo demand soft, and with little snow this winter, fire season could be a real concern.

Many buyers may pause, but those who are prepared and act thoughtfully could find themselves with some excellent opportunities. Spring often rewards the ready—and in this market, being ready could make all the difference.