08/03/2026
Peak. Correction. Recovery.
Here’s what a typical Kelowna house has actually cost, year by year.
It peaked at $1,131,800 in April 2022, then dropped 14.6% to $966,500 by the end of 2023. That was the correction everyone was waiting for, and most people missed it while it was happening.
Since then it’s climbed back three times in a row. Up 4.4%, then 1.2%, then 3.2%. Today it sits at $1,053,700.
That’s still 6.9% below the peak, and 9% above the bottom. The gap between those two numbers is what’s left of the discount.
Detached inventory is now down 18.4% year over year.
Less supply usually shows up in price before long.
If you’ve been sitting on the sidelines waiting for a better number, you may have already seen it.
