The Middle of the Okanagan Real Estate Market Is Getting Stuck
Why Some Homes Are Selling and Others Are Sitting
The Okanagan real estate market is not simple right now.
Some homes are selling quickly.
Some homes are sitting.
Some buyers are active.
Some sellers are frustrated.
That can make the market feel confusing.
But when you look closer, one pattern is starting to stand out:
The middle of the market is where many homes are getting stuck.
Entry-level homes are still getting attention because buyers are looking for affordability.
Lifestyle homes are still getting attention because buyers will pay for something that feels special.
But homes in the middle often have a harder job.
They are not cheap enough to feel like a deal.
They are not unique enough to feel like a dream.
And if they are not priced properly, buyers may simply move on.
That is why pricing and positioning matter so much right now.
The Okanagan Market Is Split
The big mistake right now is trying to describe the whole market with one sentence.
You cannot just say, “The market is good” or “The market is bad.”
The better answer is:
It depends on the property.
In May 2026, the total Central Okanagan market had:
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443 sales
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1,070 new listings
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3,530 active listings
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8 months of inventory
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59 average days to sell
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38 median days to sell
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$748,000 median sale price
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$852,618 average sale price
Those numbers tell us the market is still giving buyers options.
But they do not tell the full story.
Because some parts of the market are moving faster than others.
The homes getting the most attention usually fall into one of three groups:
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They offer clear value
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They offer strong lifestyle appeal
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They are priced and marketed better than the competition
If a home does not fit one of those groups, it can get stuck.
What Do I Mean by “The Middle of the Market”?
The middle of the market does not mean one exact price point.
It depends on the property type.
For apartments, the middle may be units that are above entry-level pricing but not premium enough to attract lifestyle buyers.
For townhomes, the middle may be older 1990s or 2000s homes priced between roughly $650,000 and $1 million.
For single-family homes, the middle can be homes that are priced too high for value buyers, but not special enough for luxury or lifestyle buyers.
This is where sellers need to be careful.
A buyer has to feel like the home makes sense.
If the home feels average but the price feels high, the buyer may not even book a showing.
Entry-Level Homes Are Still Getting Attention
Affordable homes are still getting interest because buyers are trying to solve a real problem.
They want to get into the market.
For many buyers, detached homes are too expensive. Newer townhomes may be too expensive. Large condos may also be too expensive.
So they are looking for the best value they can find.
That is why entry-level apartments under $400,000 are getting attention.
It is also why older townhomes under $500,000 are moving faster in some areas.
These properties are not always perfect.
They may need updates.
They may have higher strata fees.
They may be older.
They may not have the dream layout.
But they offer something buyers care about right now:
A lower purchase price.
That matters.
When affordability is tight, value becomes powerful.
Lifestyle Homes Are Still Moving Too
On the other end of the market, lifestyle homes are still getting attention.
These are homes that offer something buyers can feel.
That could be:
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A lake view
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A great yard
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Walkability
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A newer build
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A quiet street
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A suite
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A pool
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A strong school area
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A home close to beaches, trails, wineries, or downtown
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A layout that fits a buyer’s life better
In the single-family market, established homes from the 1980s and 1990s between roughly $800,000 and $1 million are still an important part of the market.
Many of these homes offer more space, larger lots, mature neighbourhoods, and better value than some newer homes.
That is why this segment can still move when the price makes sense.
Neighbourhoods like South East Kelowna, Kettle Valley, and Black Mountain have also seen stronger year-over-year activity.
That does not mean every home in those areas sells easily.
But buyers are still chasing lifestyle when the value is clear.
So Why Is the Middle Getting Stuck?
The middle gets stuck because buyers have choices.
A middle-market home needs to work harder to stand out.
It may be too expensive for entry-level buyers.
It may not be upgraded enough for move-up buyers.
It may not feel special enough for lifestyle buyers.
It may be competing against newer product, better locations, or homes with suites, views, larger lots, or better layouts.
This is the hard truth:
If a buyer cannot quickly understand why your home is worth the price, they may move on.
They do not need to hate the home.
They may simply like another one better.
That is what sellers need to understand in this market.
Most buyers are not desperate.
They are cautious.
They are comparing.
They are watching interest rates.
They are thinking about monthly payments.
They are looking at every option.
So an average home with an above-market price can sit.
The Pricing Mistake Sellers Are Making
The biggest mistake sellers can make right now is pricing based on hope.
That might sound harsh, but it is true.
Some sellers are still pricing based on:
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What their neighbour listed for
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What they want to net
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What they could have got in 2021
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What they spent on renovations
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What they feel the home should be worth
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What they need to buy their next home
Those things may matter emotionally, but buyers do not usually price homes that way.
Buyers compare.
They look at what else is available.
They look at what has sold.
They look at condition.
They look at location.
They look at the monthly payment.
They look at how long the home has been listed.
Then they decide if it feels worth it.
That is why sellers need to price for today’s market, not yesterday’s market.
Positioning Matters as Much as Price
Price is important, but it is not the only thing that matters.
Positioning matters too.
Positioning means how the home is presented to the market.
It answers this question:
Who is this home for, and why should they care?
A home should not just be listed.
It should be positioned.
For example:
A family home should speak to families.
A downsizer home should speak to downsizers.
A home with a suite should speak to buyers who care about income, flexibility, or multi-generational living.
A development property should speak to builders, investors, and land buyers.
A luxury home should sell the lifestyle, not just the square footage.
When the positioning is weak, the listing feels flat.
It becomes just another home online.
And in a market with more choice, that is dangerous.
The Question Every Seller Should Ask
Before listing, every seller should ask one simple question:
Why would a buyer choose my home over the other homes they can buy?
Not why do you love it.
Why would they choose it?
That answer needs to be clear.
Maybe it is priced better.
Maybe it shows better.
Maybe the location is stronger.
Maybe the lot is better.
Maybe the suite adds value.
Maybe the view is rare.
Maybe the renovations are done.
Maybe the layout solves a problem.
Maybe it has future development upside.
But if the answer is not clear, the listing may struggle.
That does not mean the home is bad.
It means the market needs a better reason to act.
What Sellers Should Do Before Listing
If you are thinking about selling in the next 3 to 12 months, this is the time to prepare.
Do not wait until the week before you list.
A stronger listing usually starts earlier.
Here are a few things sellers should review:
1. Look at the real competition
Do not only look at sold homes.
Look at active listings too.
Your buyer will compare your home against what they can buy right now.
2. Be honest about condition
Buyers are more careful today.
If a home needs work, the price has to reflect that.
3. Know your buyer
A home marketed to everyone usually connects with no one.
The better question is:
Who is the most likely buyer for this home?
4. Price for attention
The first two weeks matter.
If the home launches too high, you may miss the best wave of buyer interest.
5. Make the home easy to understand
The listing should clearly explain the value.
Do not make buyers work too hard to figure it out.
What Buyers Should Know
This market can also create opportunity for buyers.
If a home has been sitting, there may be more room to negotiate.
But buyers should still be careful.
A home that has been on the market longer is not automatically a good deal.
Sometimes it is sitting because it is overpriced.
Sometimes it has a layout issue.
Sometimes there is too much competition.
Sometimes the seller is not motivated.
Sometimes the market has simply not found the right buyer yet.
The key is to understand why it has not sold.
That is where the opportunity may be.
The Big Takeaway
The Okanagan real estate market is split.
Value is moving.
Lifestyle is moving.
Well-priced homes are moving.
But the middle of the market is more sensitive.
If a home is not priced properly or does not have a clear reason for buyers to act, it can sit longer.
That is why sellers need more than a sign in the yard and a listing online.
They need a strategy.
The best question is not:
“How much do I want?”
The better question is:
What price and positioning will make a buyer choose this home right now?
That is where the work starts.
Want to Understand Where Your Home Fits?
I built an Okanagan Market Dashboard to help make the market easier to understand.
It shows 10 years of Central Okanagan real estate data in a simple visual format, including:
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Sales
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Inventory
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Prices
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Days on market
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Months of inventory
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Property type trends
You can view it here:
Thinking about selling in the next 3 to 12 months? Let's get in touch:
Mark Coons Personal Real Estate Corporation, BBA, CE
Team Lead, Selling Okanagan Group
REALTOR® | eXp Realty Kelowna
Kelowna Realty Market Insight
Relocated to Kelowna in 2018
778-946-6454
[email protected]
