Kelowna Condo Market Q3 2026: Prices Rose, Sales Slowed and Supply Is Coming
Condo benchmark prices in the Central Okanagan were higher than a year ago—but fewer condos sold, and a large apartment construction pipeline deserves attention.
The Association of Interior REALTORS® (AIR) reports a September 2026 condo/apartment benchmark of $496,700, up 2.0% year over year. Meanwhile, 286 apartments sold in Q3, down 10.1% from Q3 2025. September inventory was 821 units, down 15.5%, and days to sell reached 78, up 9.9%.
What the condo numbers say
AIR measure | Central Okanagan Q3 2026 / September snapshot |
|---|---|
Q3 condo/apartment sales | 286 (−10.1% year over year) |
September benchmark | $496,700 (+2.0%) |
Days to sell | 78 (+9.9%) |
September inventory | 821 (−15.5%) |
A higher benchmark does not mean demand is booming. Fewer sales and longer marketing times are signs that buyers remain selective. Lower resale inventory may be helping support prices.
How much new apartment supply is coming?
AIR reports that about 4,327 apartment units were under construction across the Okanagan region in Q2 2026. That's a region-wide apartment-construction figure—not 4,327 new Kelowna condos for sale. Some of the projects are rental buildings, and they will not all finish at the same time.
AIR says that as these projects are completed over the next 12–24 months, they could add pressure to condo pricing and rental conditions. That is a risk to monitor, not proof that condo prices will crash.
Where do local condo markets differ?
AIR reports Kelowna North at a $610,100 apartment benchmark (+0.9%), Kelowna South at $475,100 (−0.7%), Rutland North at $369,400 (+2.6%), and Westbank Centre at $442,600 (+2.5%). Sales volumes also vary greatly: in Q3, there were 63 apartment sales in Kelowna North but four in Rutland South.
That matters because a broad benchmark should not replace a building-level comparison. Condo buyers need to examine the specific building, age, floor plan, strata finances, monthly fees, recent special levies and competing units.
Should condo buyers wait?
There is no reliable answer from the Q3 report alone. New construction could create more choice, but a buyer's financing and building preferences may matter more than a prediction about prices. For condo sellers, the strongest strategy starts with competing listings in the same building or nearby buildings—not simply applying a regional percentage.
Watch my Q3 video on why sales and prices are moving differently. I also explain the difference between apartments under construction and condos for sale.
My takeaway: Condos are not one market. If you're buying or selling a condo in Kelowna or West Kelowna, call 778-946-6454 and we'll compare the actual buildings and units you care about.
Explore the Q3 2026 market by property type
- Central Okanagan Real Estate Market Update: What Really Happened in Q3 2026
- Kelowna Detached Home Market Q3 2026: Why Benchmark Prices Rose While Sales Slowed
- Kelowna Townhome Market Q3 2026: Why Prices Fell and What Downsizers Should Know
- Kelowna Condo Market Q3 2026: Prices Rose, Sales Slowed and Supply Is Coming
Sources and methodology
Source and methodology: Association of Interior REALTORS®, Q3 2026 Okanagan Market Overview (October 2026), pp. 1–7. Q3 sales and days-to-sell figures cover the quarter; benchmark prices and inventory reflect September 2026. Changes are compared with the same period a year earlier. Central Okanagan is a regional MLS geography, not Kelowna city alone. Detached benchmark statistics exclude lakefront and acreage homes. Benchmark prices are not average transaction prices or estimates of any particular property. The underlying member report was supplied directly for this analysis; figures are paraphrased, not reproduced as AIR graphics. Association: https://www.interiorrealtors.ca/market-statistics/ .
Author: Mark Coons, Selling Okanagan Group | eXp Realty | 778-946-6454. Reviewed: October 30, 2026.
