The Quick Read

September sales in the Kelowna area were flat from August and down 12% from a year earlier, the third weakest September in four years.

Detached sales totalled 164, down 4%; townhome sales fell 15% to just 46; condo sales dropped 19%.

Inventory rose from August to September, when listings normally taper off, pushing months of supply to 8.3 months for detached homes and nearly nine months for townhomes.

Benchmark prices have held so far: composite just under $800,000, detached $1,057,000, condos $496,000.

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The Full Story

Kelowna homebuyers have leverage they have not enjoyed in years, and the latest market numbers make that plain.

The October 2026 market update, reporting September figures, shows sales flat from August and down 12% from a year earlier, making it the third weakest September in the last four years.

The slowdown hit every property type.

Single family detached sales came in at 164, down 4% from last September.

Townhome sales fell 15% to just 46 across the entire Kelowna area.

Condo sales dropped 19%, the biggest decline of the three.

At the same time, inventory did something unusual for autumn: it rose from August to September, when listings normally start to taper off.

Total inventory is still down 4.7% from last year, but that compares against record-setting inventory years in 2024 and 2025, so the bar was high.

Months of supply tells the real story.

Detached homes rose from 7.4 months in August to 8.3 months in September.

Townhomes sit at almost nine months of supply, up 22% from a year ago, meaning roughly 11% of listings sell in any 30-day period.

By any standard measure, every property type in the Kelowna area is now firmly in buyer's market territory.

Prices, so far, have not followed sales down.

The composite benchmark sits just under $800,000, up from August and slightly up from last year, though still down 11% from the 2022 peak.

The detached benchmark was $1,057,000 in September, essentially unchanged from August and up 3.4% from $1,022,000 last September.

The condo benchmark was $496,000, up 6.7% from August and up 2% from last year.

The update's author notes the provincial election and municipal elections have distracted buyers, and the August wildfires also pushed some activity out of September.

That context matters, but it does not change the practical takeaway.

Sellers who price for yesterday's market risk sitting while supply builds, and buyers with financing in place have room to negotiate that was unthinkable at the peak.

In a market like this, realistic pricing beats wishful pricing, and patience is a buyer's best friend.

Source: Kelowna Real Estate Market Update October 2026 (September numbers), Tyrell Boake. Photo by Pavel Danilyuk on Pexels.