Central Okanagan February 2026 Real Estate Stats: Sales Bounce Back 35% from January
The Numbers Straight from the Source
The Association of Interior Realtors — the organization representing approximately 2,600 REALTORS® serving communities across the BC Interior — has released its February 2026 statistics, and the numbers for the Central Okanagan deserve a close look.
In February, 274 residential units sold across the Central Okanagan region. That's a 35% jump from January's figures — a meaningful single-month bounce that the association describes as a return toward more normal seasonal patterns. Year-over-year, the picture is slightly positive too: Central Okanagan sales in February 2026 were up 1.1% compared to the same month in 2025, making our region one of the few in the province to post a year-over-year gain.
For context, the broader Interior saw 838 total residential sales in February — up 34.5% from January but down 8% from February 2025. The Central Okanagan outperformed the regional average in year-over-year terms, which is a signal worth noting: this market has more underlying resilience than the province-wide narrative of struggle would suggest.
Inventory Is Building — and That's Both Good and Complicated
Active listings in the Central Okanagan stood at 2,498 units at the end of February — an 8.2% increase from the month before, but down 7.1% from a year ago. That year-over-year decline in active listings is an important counterpoint to the narrative of a fully buyer-favoured market.
While buyers have more choice than they did during the frenzied 2021-2022 years, inventory is actually contracting on an annual basis in the Central Okanagan. That constrained supply picture — driven in part by the dramatic slowdown in new home construction — provides a floor under prices and limits how far into buyer's market territory we can really travel.
What it means practically: well-priced properties in sought-after Kelowna neighbourhoods — whether that's the Upper Mission, Lower Mission, McKinley Landing, or waterfront communities in West Kelowna — are not sitting for months. They're moving when they're positioned correctly. The challenge is that many listings aren't positioned correctly, and those are the ones accumulating days on market and dragging down the headline numbers.
How the Central Okanagan Compares to the Rest of Interior BC
One of the most useful things about the Association of Interior Realtors data is that it lets you compare our region against others in real time. In February 2026, the contrast was stark. The Kootenay region saw year-over-year unit sales down 29.4%. The North Okanagan fell 22.1% year-over-year. Even the strong-performing Kamloops market was down 3.8% annually.
Against that backdrop, the Central Okanagan's +1.1% year-over-year performance stands out. It reflects the region's fundamental appeal: the lifestyle, the climate, the amenity set, and the ongoing influx of buyers and retirees from higher-cost markets who see Kelowna as an attractive destination relative to the Lower Mainland and major Ontario cities.
The South Okanagan was actually the strongest performer in the Interior in February, up 10.1% year-over-year, suggesting that communities like Penticton, Oliver, and Osoyoos are benefiting from similar relocation dynamics. For investors and buyers looking at the broader Okanagan corridor, these regional comparisons are worth factoring into your thinking.
What the February Bounce Tells Us About the Road Ahead
A 35% month-over-month sales increase is attention-grabbing, but it needs context. January is historically the slowest month for real estate activity — so February almost always looks better by comparison. The key question is whether this bounce represents the beginning of a genuine spring momentum, or just the normal seasonal recovery.
My read, based on what I'm seeing with clients across Kelowna and the Central Okanagan right now, is cautiously optimistic. There are serious buyers in this market — people who have been watching for 12 to 18 months, who are financially prepared, and who are beginning to act. If the Bank of Canada delivers rate relief in the coming months, that could be the catalyst to turn cautious optimism into a proper spring market. The underlying demand is there. It's been waiting for conditions to align.
Have questions about what this means for your home or investment? Contact us:
Mark Coons, BBA, CE
REALTOR® | eXp Realty Kelowna
Team Lead, Selling Okanagan Group
Relocated to Kelowna in 2018
📞 778-946-6454
📩 [email protected]
