With the latest data now available, here’s a fresh look at how the Kelowna real estate market performed in October. 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: 920 — Lower than last month, typical for this time of year
Sales: 386 (down from last month)
Average Price (Residential): $1,024,158 (-3.43% MoM | -3.26% YoY)
Average Price (Townhomes): $647,249 (-23.44% MoM | -9.54% YoY) (last month was a higher average price due to more selling at a high price point)
Average Price (Condos): $474,107 (-5.48% MoM | -3.05% YoY)
Average Days to Sell: 76 — This number can be skewed by cancelled listings that are relisted. It is not always accurate
Inventory: 3917 - Important to track supply and demand shifts. (10.15 months of inventory between all property types)
🏡 What This Means for Buyers
The fall market has eased into a more balanced pace — giving buyers time to think, compare, and make decisions without pressure. While some homes are still moving quickly, many are taking longer to sell, which can open the door for negotiation and a bit more flexibility.
The recent rate cut has added a touch of optimism, too. For those who stepped back earlier this year due to higher borrowing costs, this could be a good moment to revisit your plans. With more choice and a steadier pace, buyers who stay patient and prepared are the ones finding real value right now.
📦 What This Means for Sellers
As the market cools seasonally, sellers still have opportunity — it’s just a different kind of one. There are fewer listings overall, which means serious buyers are still out there and paying close attention to the homes that show well and are priced right.
The key is understanding where today’s market sits. Buyers are more selective, and properties that align with current expectations are moving, while others may take longer. A thoughtful pricing strategy, strong presentation, and small seasonal touches — like warm lighting and inviting staging — can make all the difference this time of year.
💬 My Take
This is the kind of market that rewards patience and preparation. Things are moving at a steadier pace, which gives everyone — buyers and sellers alike — a chance to make thoughtful decisions instead of rushed ones.
It’s not a downturn, it’s a reset. Balance is coming back, and with that comes opportunity for those ready to take the next step with a clear plan and realistic expectations.
