Listen to this story:

The quick read: Residential sales across the Interior held steady in September at 1,141 homes — flat against August, down 8 percent from a year ago — while inventory tightened and well-priced homes moved quickly, according to the Association of Interior REALTORS®. Single-family benchmark prices rose across most Okanagan sub-regions year over year, townhomes softened everywhere, and condos gained ground. The association calls it early signs of a soft rebound.

After a rough few months, the Interior housing market is showing signs of finding its footing.

The Association of Interior REALTORS® reported October 5 that the region recorded 1,141 residential sales in September — exactly matching August's total, though down 8 percent from September 2025.

New listings fell 13.4 percent year over year to 2,289, though they rose from August's 2,062. Total active listings dropped 6.8 percent from a year ago to 9,185, down from 9,378 in August.

Balanced, not booming — and not crashing

Association president Ryan Mayne put it plainly: broader geopolitical and economic uncertainty is still making some buyers and sellers hesitant, but inventory is not accumulating, which is helping maintain balanced conditions.

And, he added, well-priced homes are being picked up relatively quickly — an encouraging sign that the market is gradually moving in the right direction.

That is the number to watch. A market where fairly priced homes sell is a functioning market. A market where nothing sells at any price is a market in trouble. September looks like the former.

What prices did

Single-family benchmark prices rose across all Okanagan and Shuswap/Revelstoke sub-regions compared to September 2025 — except the South Okanagan, where the benchmark fell 6.2 percent to $718,400.

Townhomes were the soft spot, with benchmark prices down in every sub-region. The biggest drop was again in the South Okanagan, down 5.7 percent to $486,700.

Condos went the other way, with benchmark prices up in all sub-regions. The largest gain was in Shuswap/Revelstoke, up 6.6 percent to $435,100.

What it means for Kelowna

Nobody should mistake a soft rebound for a boom. Sales are still below last year, and buyers remain cautious. But the pieces of a healthy market are visible: supply is not piling up, realistic sellers are finding buyers, and prices for detached homes are holding up across most of the valley.

For buyers, that means patience pays — but lowballing a well-priced home probably does not. For sellers, the message is blunter: price it right, or sit.

Sources: Association of Interior REALTORS®, October 5, 2026.

Photo credit: Photo by Bailey Anselme on Unsplash