With the latest data now available, here’s a fresh look at how the Kelowna real estate market performed in July. Whether you're actively planning your next move or simply staying informed, these insights offer a clear picture of what’s happening locally—and what it might mean for you. We’ll explore the latest numbers, market trends, and what buyers and sellers should be thinking about as we settle into a new month.

📊 Key Market Stats

• New Listings: 1184 — A good indicator of how much new inventory is coming to market.

• Sales: 482 (⬆️from last month & highest # of sales in 12 months) — This tells us how active buyers are and how fast the market is moving.

• Average Price (Residential): $1,053,775 (-4.59% MoM | +2.65% YoY)

• Average Price (Townhomes): $705,256 (+3.84% MoM | +2.96% YoY)

• Average Price (Condos): $491,058 (-1.64% MoM | +3.11% YoY)

• Average Days to Sell: 68 — A higher number may suggest a slower market; a lower number indicates strong buyer demand.

• Inventory: 4481 — Important to track supply and demand shifts. (9.30 months of inventory)

🏡 What This Means for Buyers

Is the market leaning in your favour? More listings and longer days on market can create opportunities to explore without rushing. But in tighter months, staying prepared with pre-approval and clear criteria is key.

Lately, more buyers seem to be taking the leap. Many are simply tired of waiting. Interest rates have held steady, and with recent shifts in the U.S. job report, we’re seeing early signs that bond yields — and eventually mortgage rates — could begin to soften. Meanwhile, home prices have remained stable or slightly declined in some areas, creating a window of opportunity for those ready to make a move.

If you’re just starting out, I can help you connect with trusted mortgage professionals, create a focused home search strategy, and walk you through every step with confidence.

📦 What This Means for Sellers

Understanding buyer behaviour and the overall pace of the market helps you list strategically. The right price, timing, and presentation can make all the difference—especially if inventory is high or homes are taking longer to sell.

Right now, homes in our area are selling for around 96.03% of their asking price. That means proper pricing is crucial—buyers are doing their homework, and overpriced homes are often sitting while well-priced properties are the ones that move.

As a seller, it’s worth asking: what’s more important—waiting months and putting your future plans on hold, or selling in a reasonable timeframe and moving forward without the added stress? A strategic list price doesn't mean underselling—it means staying competitive so you can attract serious buyers from the start.

💬 My Take

Kelowna’s market doesn’t move in a straight line. While month-to-month trends help us track patterns, it’s important to remember that every neighbourhood and price range moves a little differently. What’s true for one property might not apply to another.

If you’re curious how the current market affects your buying or selling plans, I’d love to chat. Whether you’re months away or thinking of making a move sooner, I’m here to help you make smart, informed decisions.