Kelowna Real Estate Market Stats – March 2026
What Buyers, Sellers, Developers, and Builders Should Know This Spring
Happy Wednesday!
Hope you have a great Easter weekend ahead.
The Kelowna real estate market showed better life in March 2026, which is what many people were hoping to see as we move into spring.
There were 375 total sales in March. That is up from 350 in March 2025 and 314 in March 2024. Those were two of the quieter Marchs in recent years.
At first glance, March may still look slow when compared with the last 11-year average of 507 sales, but that number is heavily skewed by the unusual 2021 to 2023 COVID boom, when March sales averaged 704. A more normal comparison tells a different story. In 2020, there were 400 March sales, and in 2019, there were 354. That puts today’s market much closer to a healthier and more normal spring market.
What happened in the Kelowna market in March 2026?
Several things improved at the same time.
Months of inventory dropped from 10 to 8, which means supply tightened a bit as more buyers stepped into the market.
New listings rose to 1,128, showing that more sellers are coming to market.
Prices also moved higher month over month. The median sale price rose to $739,000, up from $699,000 last month. The average sale price climbed back to $817,130.
That tells us one simple thing:
more sellers listed, and more buyers showed up.
Interest rates and mortgage pressure in Canada
The Bank of Canada held its policy rate at 2.25% on March 18, 2026, which was widely expected. At the same time, longer-term bond yields have remained firm, and that matters because fixed mortgage rates are influenced more by bond markets than by the Bank of Canada’s overnight rate. The Bank has also warned that higher energy prices could keep inflation risks alive, even while growth concerns remain.
For buyers and sellers in Kelowna, this means borrowing costs are not moving in a straight line. Even when the Bank of Canada pauses, mortgage pricing can still shift.
Kelowna condo market update
The Kelowna condo market is still the segment worth watching most closely.
The median apartment price slipped to $421,967, and buyers still have choice and negotiating room in many condo and apartment listings.
That creates opportunity for:
- first-time buyers
- investors looking at long-term holds
- downsizers wanting more options
- buyers who want better value than detached homes currently offer
Single-family homes and townhomes are holding up better
The stronger story in March 2026 Kelowna real estate was in single-family homes and townhomes.
Both segments saw:
- stronger sales
- lower days to sell
- better pricing momentum than apartments
That does not mean every home is selling fast. It means the better homes, in the better locations, priced properly, are getting attention.
Why days on market can be misleading
One thing to be careful with is days on market.
Sometimes listings are cancelled and relisted to reset the clock. That means the visible number does not always show the full story.
The Association of Interior REALTORS® has introduced a Cumulative Days on Market feature to help solve that problem, which should give a more accurate picture going forward.
What this means for Kelowna home sellers
If you are thinking about selling a home in Kelowna, spring is still a good window, but you need to be sharp.
Inventory is rising. That means buyers have more choice. Sellers can still do well, but pricing, preparation, and positioning matter more now than they did in a tighter market.
The homes getting the best results today usually have:
- strong presentation
- realistic pricing
- a clear target buyer
- a location story buyers understand right away
What this means for Kelowna home buyers
If you are planning on buying a home in Kelowna, this market may be giving you more opportunity than the headlines suggest.
There is more selection than last month. Condo buyers still have room to negotiate. Detached and townhome buyers may need to move faster on the best listings, but this is still not the kind of market where every home is flying off the shelf.
Good planning matters.
What this means for developers and home builders in Kelowna
For developers, builders, and infill multifamily projects in Kelowna, this market continues to show an important split.
Apartments are softer on pricing, while townhomes and detached homes are showing better resilience. That matters when thinking about:
- end-user demand
- product mix
- absorption timing
- price sensitivity
- infill redevelopment opportunities
Builders working on Kelowna infill multifamily builds should pay close attention to where demand is strongest:
- family-oriented townhome product
- well-located missing-middle housing
- projects with practical layouts and real usability
- smaller multifamily sites where design and target audience are very clear
In simple terms, the market is rewarding good product in the right location, not just any product.
Kelowna spring market outlook for 2026
If the last 10 years are any guide, about 22% of annual sales are usually done by the end of March. By the end of June, that number is often around 55% of the year’s total sales.
So yes, spring matters.
But there is still a lot of market left in 2026.
Whether you are buying, selling, building, or planning a redevelopment project, this is the kind of market where early planning can create a real edge.
March 2026 Kelowna Real Estate Stats
Total Market
All Property Types | March 2026 vs February 2026
Sales: 375
New Listings: 1,128
Current Inventory: 3,186
Median Days to Sell: 43
Average Days to Sell: 68
Months of Inventory: 8
Median Sale Price: $739,000
Average Sale Price: $817,130
Total Volume: $306,423,613
Single-Family Homes
March 2026 vs February 2026
Sales: 171
New Listings: 502
Current Inventory: 1,335
Median Days to Sell: 36
Average Days to Sell: 57
Months of Inventory: 8
Median Sale Price: $952,500
Average Sale Price: $1,108,899
Total Volume: $189,621,715
Townhomes
March 2026 vs February 2026
Sales: 62
New Listings: 155
Current Inventory: 396
Median Days to Sell: 51
Average Days to Sell: 60
Months of Inventory: 6
Median Sale Price: $724,500
Average Sale Price: $780,184
Total Volume: $48,371,400
Apartments / Condos
March 2026 vs February 2026
Sales: 104
New Listings: 271
Current Inventory: 764
Median Days to Sell: 49
Average Days to Sell: 81
Months of Inventory: 7
Median Sale Price: $421,967
Average Sale Price: $443,900
Total Volume: $46,165,632
FAQ Section
Is now a good time to sell in Kelowna?
It can be. More buyers were active in March 2026, but inventory is also rising. Sellers who price right and prepare well still have a strong opportunity.
Is Kelowna a buyer’s market or seller’s market in March 2026?
It depends on the property type. Condos are giving buyers more room to negotiate, while single-family homes and townhomes are showing stronger demand.
Are condo prices falling in Kelowna?
In March 2026, the median apartment price slipped to $421,967, so condos remain the softer segment compared with detached homes and townhomes.
What does this mean for Kelowna developers and builders?
It suggests product selection matters. Practical infill multifamily housing, well-designed townhomes, and homes aimed at real end-users may be in a better position than generic product.
If you are thinking about buying, selling, building, or redeveloping in Kelowna, now is a good time to make a plan before the spring market gets deeper.
Reach out anytime if you want help understanding what these numbers mean for your specific property, project, or next move.
Mark & Maddie Coons
Selling Okanagan Group | eXp Realty Kelowna
📞 778-946-6454
📩 [email protected]
