Kelowna Real Estate Hot Sheet: What’s Actually Selling Right Now?
(Simple December Kelowna Real Estate Market Breakdown for Buyers & Sellers)
Kelowna real estate, Okanagan housing trends, and who’s buying right now — this week’s Hot Sheet shows the market is busier than most people think.
Even with worries about the economy, homes are selling across all price points.
Let’s break down the numbers in plain English.
Is Anyone Buying Homes in Kelowna Right Now?
Yes — and more than most people expect.
The weekly Hot Sheet shows steady activity from entry-level condos all the way to multimillion-dollar waterfront homes.
Why this matters:
When sales continue in every price range, it tells us buyers are still confident enough to move forward, even with higher rates.
Why Are New Listings Dropping?
New listings fell again this week.
A few months ago, we were seeing around 300 new listings a week.
Now we’re closer to 150–160.
What this means:
Less choice for buyers.
More pressure on the homes that are listed.
And fewer options heading into December.
Why Are Expired and Cancelled Listings Spiking?
Sellers are pulling homes off the market when they don’t get the offers they want.
This week we saw:
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96 cancelled
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131 expired
Many of these homes will come back as new listings — usually with updated pricing.
This is where smart buyers find motivated sellers.
Is Kelowna’s Inventory Getting Tighter?
Yes. Inventory is dropping week after week, which is normal for this season.
But here’s the surprise:
Inventory is falling faster than expected, and some buyers are stepping in early before the holidays.
This creates small “mini windows” where buyers get better deals because competition is low.
Are Sellers Negotiating More Right Now?
Yes — sold-to-list ratios show buyers are getting room to negotiate.
We’re seeing:
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Price reductions
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Homes relisting at lower numbers
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Sellers accepting losses after 12–18 months
For buyers, this means stronger negotiating power.
For sellers, this means pricing needs to match today’s market, not last spring’s.
What’s Selling at the Low End? ($198K–$300K)
Entry-level homes sold again this week — including units under $200,000.
This tells us:
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First-time buyers are active
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Investors are watching smaller units closely
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Lower-priced properties move fastest when inventory drops
What’s Selling at the High End? (Over $2M)
Luxury homes are still moving, including a waterfront sale this week.
Even in a slower economy, lifestyle buyers and relocators continue to buy when the right property shows up.
This is a strong sign that the Okanagan remains a high-demand region.
Are Buyers Still Active Before the Holidays?
Yes — more than expected.
Early December usually slows down.
But this week’s Hot Sheet showed steady showings and fast decisions on well-priced homes.
Buyers who shop now often get the best deals of the year.
What Does This Mean for 2026 Buyers & Sellers?
For Buyers:
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December is a smart time to buy
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Less competition
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Motivated sellers
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Better deals
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More negotiating room
For Sellers:
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Pricing needs to fit today’s reality
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Clean homes + strong marketing still win
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Serious buyers are still out there
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You can sell before spring if you price right
Want Listings Sent to Your Inbox Automatically?
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Call/text: 778-744-0872
Email: [email protected]
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Final Thoughts
Kelowna real estate is not “dead.”
It’s shifting — and the numbers show buyers are still active across the board.
Whether you’re buying, selling, or just watching the market, now is the time to stay informed.
Mark & Maddie
Selling Okanagan Group | eXp Realty Kelowna
📞 778-744-0872
📧 [email protected]
🏡 https://sellingkelownarealestate.com/home-search/listings