June 2026 Kelowna Market Update: A Rebound in Sales, But Prices Tell a Different Story
Kelowna home sales jumped 9.8% in June compared to a year ago. If that's the only number you saw, you'd assume the market is back. But when I broke June down by property type, one segment looks like it's found its footing while another keeps sliding. Here's what actually happened, and what it means depending on what you're buying or selling.
Sales Activity: The Best June Since 2023
June sales were up 9.8% year over year, the strongest June we've seen since 2023. What makes that stand out is the month it followed. May was the slowest May in a decade outside the pandemic years. On top of that, sales normally dip from May into June before the summer market arrives, and that's the pattern we saw in 2023, 2024, and 2025. This year it flipped. Sales rose from May into June, and they've climbed every month since March.
Broken down by category, the rebound is broad:
Single family detached sales were up 5.3% year over year. Town home sales were up 11.3%. And condo sales jumped nearly 27%. That last number is a significant swing from where this segment sat a year ago.
There's also a seasonal window worth keeping in mind. In the Okanagan we usually get a summer market once school lets out, roughly mid-July through October or November, where activity picks up again. If this trend holds through that window, it's fair to say more people are buying this year than in either of the last two.
Inventory: Roughly 20% Tighter Than Last Year
Inventory typically builds through the middle of the year, and it is building. But 2026 is running considerably leaner than 2025. Coming into summer, we're sitting on roughly 20% fewer listings than we had at this time last year. So we have more buyers competing over fewer homes, which is the setup that usually starts to pressure prices.
Months of Supply: Still a Buyer's Market in Every Segment
Months of supply tells you how long it would take to sell through the current inventory at the current pace of sales. Here's where each segment landed in June:
Single family detached sits at 8.9 months. Town homes are at 8.8 months. Condos are at 9.1 months.
For context, four to six months of supply is considered balanced, under three months favours sellers, and anything above that favours buyers. So despite rising sales and tightening inventory, all three segments are still firmly in buyer's-market territory. Months of supply tends to lag what's actually happening on the ground, so this is a number to watch over the next few months rather than a settled verdict.
Benchmark Prices: Where the Story Splits
This is where the two-track market shows up.
Composite benchmark: The all-segments benchmark came in at $795,000 in June, down slightly from May and down from a year ago. Zoom out five years and it's off about 12% from the 2022 peak, though still a touch above the correction low of January 2023. The honest summary of this segment is that it's been relatively flat for a couple of years, ticking up two or three percent and then giving it back.
Single family detached: The benchmark rose 1.4% from May to about $1,053,000. It's down 1.6% year over year, but the more useful signal is the recent trend. This price climbed into mid-2025, gave back around $70,000 through November, and has trended upward again since. That pattern, combined with rising sales and tightening inventory, looks a lot like a segment that has found its bottom. Over five years it's still down about 11% from the peak, but there's no sign of a crash here. I think these prices continue to hold.
Town homes: This is the segment moving the other way. The benchmark fell 3.4% month over month, from $732,000 in May to $707,000 in June, and it's down just under 1% year over year. Town homes are always the most volatile segment, bouncing up and down month to month, but the longer trend is clear: prices have been drifting down since early 2025 and sit about 15% below the peak, now below where they were at the end of the last correction in March 2023. Where single family has arguably rebounded, town homes are still working their way lower.
Condos: The condo benchmark held roughly flat, easing about $3,000 from May to $495,000. Year over year it's down 3.4%, from a little over $512,000 last June. Zooming out, prices dropped roughly $40,000 from June to December of 2025, spiked in January (which we've chalked up to a data anomaly, since February gave it right back), recovered a little from March into May, and have now started to taper again. That $500,000 line keeps acting like a ceiling. Given how much inventory is still sitting in this segment, I'd expect a bit more softening ahead, even though sales here were up over 25%, which tells you buyers are comfortable with prices right where they are.
What This Means If You're Buying
You're still shopping in a buyer's market across all three property types, with more selection than a balanced market would give you and no broad upward pressure on prices. If you're an entry-level or first-time buyer eyeing condos, patience may still work in your favour, since that segment has room to soften and is holding under $500,000. If you're looking at single family, the math is shifting. That segment has stabilized and is trending up, so waiting for a lower price is a riskier bet than it was six months ago.
What This Means If You're Selling
Rising sales and tighter inventory are working in your favour, but months of supply is still high enough that pricing sharply and presenting well matters more than ever. Single family sellers are in the strongest position, with genuine buyer demand and a firming benchmark behind them. Town home sellers face the softest conditions of the three and should price to the trend, not to last year. Condo sellers are seeing strong activity, but with heavy inventory and prices near a ceiling, realistic pricing is what gets you sold.
So, Is It a Rebound?
The sales say yes. The prices say not yet, at least not in terms of broad appreciation. And inventory says watch the next few months, because it's genuinely too early to call. What's clear is that this is no longer a single market moving in one direction. It's split, and which story applies to you depends entirely on which segment you're in.I walk through every one of these charts in this month's video, including where I think each segment heads from here. If you want to see the trends for yourself, that's the place to start. And if you want to know what all of this means for your specific situation, reach out any time.